Panagora Asset Management Inc. Purchases New Position in Kontoor Brands, Inc. $KTB

Key Points

• Panagora Asset Management Inc. invested approximately $2.94 million in Kontoor Brands, acquiring 45,820 shares and holding about 0.08% of the company.
• Kontoor Brands recently reported earnings of $1.21 per share, exceeding expectations, and experienced an 8.5% increase in revenue compared to the same quarter last year.
• The company announced a quarterly dividend of $0.52 per share, with an annual yield of 2.6%, set to be paid on September 19th.

Panagora Asset Management Inc. acquired a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 45,820 shares of the company's stock, valued at approximately $2,938,000. Panagora Asset Management Inc. owned about 0.08% of Kontoor Brands as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Schonfeld Strategic Advisors LLC bought a new position in Kontoor Brands in the 4th quarter worth approximately $1,175,000. Ameriprise Financial Inc. lifted its stake in shares of Kontoor Brands by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock valued at $115,755,000 after acquiring an additional 142,956 shares during the period. Algert Global LLC bought a new position in Kontoor Brands in the fourth quarter valued at about $2,447,000. Bank of America Corp DE increased its position in Kontoor Brands by 0.6% in the fourth quarter. Bank of America Corp DE now owns 431,390 shares of the company's stock worth $36,845,000 after purchasing an additional 2,505 shares during the period. Finally, Bayesian Capital Management LP bought a new stake in shares of Kontoor Brands during the fourth quarter worth approximately $318,000. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Stock Performance

KTB traded down $0.30 during trading on Friday, hitting $80.11. The stock had a trading volume of 516,828 shares, compared to its average volume of 704,729. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 17.88, a P/E/G ratio of 1.84 and a beta of 1.10. The company has a 50 day moving average price of $68.66 and a 200-day moving average price of $66.33.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.86 by $0.35. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The firm had revenue of $658.26 million for the quarter, compared to analyst estimates of $632.97 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business's revenue was up 8.5% compared to the same quarter last year. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. As a group, research analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands's dividend payout ratio is 46.43%.

Wall Street Analyst Weigh In

KTB has been the topic of a number of recent analyst reports. Stifel Nicolaus raised their target price on Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Wells Fargo & Company lifted their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. UBS Group raised their price target on shares of Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. Finally, Barclays restated an "overweight" rating and set a $91.00 target price (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $89.67.

Kontoor Brands Company Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.