Smith Group Asset Management LLC Takes Position in Kontoor Brands, Inc. $KTB

Key Points

• Smith Group Asset Management LLC has acquired a new stake in Kontoor Brands, Inc. during Q2, purchasing 4,110 shares valued at approximately $271,000.
• Various institutional investors have increased their positions in Kontoor Brands, with hedge funds owning over 93% of the company's stock.
• Kontoor Brands' stock recently opened at $85.97 and has received a consensus rating of "Moderate Buy" with a consensus price target of $95.38 from analysts.

Smith Group Asset Management LLC acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,110 shares of the company's stock, valued at approximately $271,000.

Other hedge funds have also made changes to their positions in the company. Ameritas Advisory Services LLC purchased a new position in shares of Kontoor Brands in the 2nd quarter valued at about $35,000. Blue Trust Inc. grew its stake in Kontoor Brands by 23.4% during the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock worth $93,000 after buying an additional 274 shares during the last quarter. SVB Wealth LLC purchased a new position in Kontoor Brands during the 1st quarter worth approximately $94,000. Advisors Asset Management Inc. grew its stake in Kontoor Brands by 240.8% during the 1st quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company's stock worth $112,000 after buying an additional 1,233 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in Kontoor Brands by 12.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock worth $115,000 after buying an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of research reports. Weiss Ratings restated a "hold (c+)" rating on shares of Kontoor Brands in a research note on Wednesday, October 8th. BTIG Research initiated coverage on Kontoor Brands in a research note on Tuesday, October 14th. They set a "buy" rating and a $95.00 price target on the stock. UBS Group raised their price target on Kontoor Brands from $99.00 to $114.00 and gave the stock a "buy" rating in a research note on Wednesday, October 15th. Stifel Nicolaus raised their price target on Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Wall Street Zen upgraded Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $95.38.

Kontoor Brands Stock Up 2.0%

KTB opened at $85.97 on Friday. 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 business has a 50 day simple moving average of $79.63 and a 200-day simple moving average of $69.91. The stock has a market capitalization of $4.78 billion, a P/E ratio of 19.19, a P/E/G ratio of 1.93 and a beta of 1.15. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.86 by $0.35. The business had revenue of $658.26 million during the quarter, compared to analysts' expectations of $632.97 million. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The company's quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the firm earned $0.98 EPS. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. On average, equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

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.

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