T. Rowe Price Investment Management Inc. Buys 154,753 Shares of Kontoor Brands, Inc. $KTB

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Kontoor Brands, Inc. by 64.0% during the first quarter, acquiring an additional 154,753 shares and holding around 0.71% of the company worth $25.4 million.
• Several analysts have upgraded Kontoor Brands' ratings, with UBS raising the price target from $92.00 to $99.00 and five analysts now rating the stock as a strong Buy.
• Kontoor Brands announced a quarterly dividend of $0.52 per share, with a yield of 2.7%, showing a payout ratio of 46.43%.

T. Rowe Price Investment Management Inc. boosted its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 64.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 396,553 shares of the company's stock after acquiring an additional 154,753 shares during the period. T. Rowe Price Investment Management Inc. owned 0.71% of Kontoor Brands worth $25,431,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Beacon Pointe Advisors LLC raised its position in shares of Kontoor Brands by 3.4% in the fourth quarter. Beacon Pointe Advisors LLC now owns 6,206 shares of the company's stock valued at $530,000 after purchasing an additional 202 shares during the period. TD Private Client Wealth LLC grew its stake in Kontoor Brands by 12.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock valued at $115,000 after buying an additional 203 shares in the last quarter. Xponance Inc. grew its stake in Kontoor Brands by 5.1% in the 1st quarter. Xponance Inc. now owns 4,230 shares of the company's stock valued at $271,000 after buying an additional 205 shares in the last quarter. Versant Capital Management Inc grew its stake in Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after buying an additional 207 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in Kontoor Brands by 2.9% in the 1st quarter. Hsbc Holdings PLC now owns 8,945 shares of the company's stock valued at $570,000 after buying an additional 252 shares in the last quarter. Institutional investors own 93.06% of the company's stock.

Kontoor Brands Trading Up 1.8%

KTB traded up $1.35 during trading on Wednesday, hitting $77.97. 594,481 shares of the stock traded hands, compared to its average volume of 738,092. The firm has a market capitalization of $4.33 billion, a P/E ratio of 17.40, a price-to-earnings-growth ratio of 1.75 and a beta of 1.11. 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 50-day moving average of $66.69 and a 200 day moving average of $66.56. 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 announced 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. The business had revenue of $658.26 million during the quarter, compared to analysts' expectations of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The firm's revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $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. Equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 annualized dividend and a yield of 2.7%. Kontoor Brands's dividend payout ratio is 46.43%.

Wall Street Analysts Forecast Growth

KTB has been the subject of a number of recent research reports. Stifel Nicolaus lifted their price objective on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the stock a "buy" rating in a report on Tuesday, June 10th. UBS Group increased their price target on shares of Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Barclays reissued 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 equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $89.67.

Kontoor Brands 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.