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

Several other institutional investors also recently bought and sold shares of KTB. Nuveen LLC acquired a new position in Kontoor Brands in the 1st quarter valued at $19,837,000. Man Group plc increased its stake in Kontoor Brands by 119.1% in the 4th quarter. Man Group plc now owns 466,065 shares of the company's stock valued at $39,807,000 after buying an additional 253,360 shares during the period. Wellington Management Group LLP grew its stake 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 worth $28,226,000 after purchasing an additional 253,140 shares during the period. Balyasny Asset Management L.P. acquired a new position in shares of Kontoor Brands during the 4th quarter worth $12,962,000. Finally, Ameriprise Financial Inc. grew its stake in shares of Kontoor Brands by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock worth $115,755,000 after purchasing an additional 142,956 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Stifel Nicolaus upped their price target on shares of Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. 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 note on Tuesday, June 10th. UBS Group upped 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. Barclays reaffirmed an "overweight" rating and set a $91.00 price target (up from $86.00) on shares of Kontoor Brands in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, Kontoor Brands currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.67.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock traded down $0.50 on Friday, hitting $76.24. The company's stock had a trading volume of 102,279 shares, compared to its average volume of 732,789. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The company has a quick ratio of 0.95, a current ratio of 2.18 and a debt-to-equity ratio of 2.74. The firm has a fifty day moving average price of $66.94 and a 200-day moving average price of $66.51. The company has a market capitalization of $4.24 billion, a P/E ratio of 17.01, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.86 by $0.35. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The business had revenue of $658.26 million for the quarter, compared to analyst estimates of $632.97 million. During the same period in the previous year, the firm earned $0.98 EPS. The business's revenue for the quarter 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. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands's dividend payout ratio is 46.43%.

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.