Petrus Trust Company LTA Has $267,000 Position in Kontoor Brands, Inc. $KTB

Key Points

• Petrus Trust Company LTA sold 6,234 shares of Kontoor Brands, Inc., reducing its stake by 59.9%, leaving it with 4,166 shares valued at approximately $267,000.
• Multiple institutional investors increased their holdings in Kontoor Brands, with Millennium Management LLC raising its stake by 222.5%, acquiring a total of 156,332 shares.
• Kontoor Brands announced a quarterly dividend of $0.52 per share, resulting in an annualized dividend of $2.08 and a yield of 2.6%, payable on September 19th to shareholders on record by September 9th.

Petrus Trust Company LTA trimmed its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 59.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,166 shares of the company's stock after selling 6,234 shares during the period. Petrus Trust Company LTA's holdings in Kontoor Brands were worth $267,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in shares of Kontoor Brands by 1.8% during the first quarter. Bank of New York Mellon Corp now owns 597,638 shares of the company's stock worth $38,327,000 after purchasing an additional 10,748 shares during the last quarter. Fuller & Thaler Asset Management Inc. lifted its position in Kontoor Brands by 5.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,091,445 shares of the company's stock worth $69,994,000 after buying an additional 53,992 shares in the last quarter. Moran Wealth Management LLC acquired a new position in Kontoor Brands during the 1st quarter worth about $2,685,000. GAMMA Investing LLC lifted its position in Kontoor Brands by 4,248.1% during the 1st quarter. GAMMA Investing LLC now owns 38,350 shares of the company's stock worth $2,459,000 after buying an additional 37,468 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its position in Kontoor Brands by 14.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,908 shares of the company's stock worth $315,000 after buying an additional 611 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

KTB has been the topic of several research reports. The Goldman Sachs Group set a $85.00 price target on shares of Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Wall Street Zen upgraded shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday. Stifel Nicolaus raised their price target on Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. Finally, Barclays reiterated an "overweight" rating and issued a $91.00 price target (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $91.33.

Kontoor Brands Trading Down 3.6%

KTB traded down $3.00 during midday trading on Friday, reaching $81.09. 688,905 shares of the company were exchanged, compared to its average volume of 579,444. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.95 and a current ratio of 2.18. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The stock has a market capitalization of $4.51 billion, a P/E ratio of 18.10, a PEG ratio of 1.85 and a beta of 1.10. The stock's 50-day simple moving average is $69.63 and its 200 day simple moving average is $66.13.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued 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 return on equity of 68.76% and a net margin of 9.48%.The firm had revenue of $658.26 million for the quarter, compared to analysts' expectations of $632.97 million. During the same quarter last year, the business earned $0.98 earnings per share. The company'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, analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

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

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.