Strs Ohio Takes $1.11 Million Position in Kontoor Brands, Inc. $KTB

Key Points

• Strs Ohio has acquired 17,300 shares of Kontoor Brands, valued at approximately $1,109,000, during the first quarter.
• Kontoor Brands reported a quarterly earnings per share of $1.21, exceeding expectations and marking an 8.5% increase in revenue year-over-year.
• The company declared a quarterly dividend of $0.52 per share, with an annualized yield of 2.5%, reflecting a payout ratio of 46.43%.

Strs Ohio purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,300 shares of the company's stock, valued at approximately $1,109,000.

A number of other institutional investors have also recently made changes to their positions in KTB. Nuveen LLC purchased a new position in shares of Kontoor Brands during the 1st quarter valued at $19,837,000. Wellington Management Group LLP lifted its position in shares of Kontoor Brands by 135.4% during the 1st quarter. Wellington Management Group LLP now owns 440,135 shares of the company's stock valued at $28,226,000 after buying an additional 253,140 shares during the last quarter. MetLife Investment Management LLC lifted its position in shares of Kontoor Brands by 639.3% during the 1st quarter. MetLife Investment Management LLC now owns 242,915 shares of the company's stock valued at $15,578,000 after buying an additional 210,059 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Kontoor Brands by 64.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 396,553 shares of the company's stock valued at $25,431,000 after buying an additional 154,753 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its position in shares of Kontoor Brands by 694.3% during the 1st quarter. Nomura Holdings Inc. now owns 175,900 shares of the company's stock valued at $11,280,000 after buying an additional 153,754 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Price Performance

Shares of NYSE:KTB traded down $1.39 on Friday, hitting $80.62. The company's stock had a trading volume of 2,223,014 shares, compared to its average volume of 565,151. The company has a 50-day simple moving average of $70.76 and a 200 day simple moving average of $66.70. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The company has a market capitalization of $4.48 billion, a PE ratio of 18.00, a PEG ratio of 1.88 and a beta of 1.10. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate 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 firm posted $0.98 EPS. 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. Sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed 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 is Tuesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Kontoor Brands's dividend payout ratio is 46.43%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the stock a "buy" rating in a report on Tuesday, June 10th. Barclays reissued an "overweight" rating and set a $91.00 price objective (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. UBS Group increased their price objective on Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wall Street Zen raised Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company increased their price objective on Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat, Kontoor Brands has an average rating of "Moderate Buy" and an average price target of $91.33.

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.