TD Asset Management Inc Takes Position in Kontoor Brands, Inc. $KTB

Key Points

• TD Asset Management Inc acquired a new stake in Kontoor Brands, Inc., purchasing 13,244 shares valued at approximately $874,000 during the second quarter.
• Analysts have set a consensus target price of $95.38 for Kontoor Brands, with several firms issuing "buy" ratings and price targets as high as $114.00.
• Kontoor Brands recently announced a quarterly dividend of $0.52 per share, representing an annual yield of 2.5% with a payout ratio of 46.43%.

TD Asset Management Inc purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,244 shares of the company's stock, valued at approximately $874,000.

Other hedge funds have also modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in shares of Kontoor Brands during the second quarter valued at approximately $35,000. Blue Trust Inc. grew its stake in shares of Kontoor Brands by 23.4% during the first quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after purchasing an additional 274 shares during the last quarter. SVB Wealth LLC bought a new stake in shares of Kontoor Brands during the first quarter valued at approximately $94,000. Advisors Asset Management Inc. grew its stake in shares of Kontoor Brands by 240.8% during the first quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company's stock valued at $112,000 after purchasing an additional 1,233 shares during the last quarter. Finally, TD Private Client Wealth LLC grew its stake in shares of Kontoor Brands by 12.7% during the first quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock valued at $115,000 after purchasing an additional 203 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

KTB has been the topic of a number of recent research reports. Robert W. Baird began coverage on shares of Kontoor Brands in a research note on Friday, October 17th. They issued an "outperform" rating and a $105.00 price objective on the stock. UBS Group increased their target price on shares of Kontoor Brands from $99.00 to $114.00 and gave the stock a "buy" rating in a report on Wednesday, October 15th. BTIG Research began coverage on shares of Kontoor Brands in a report on Tuesday, October 14th. They issued a "buy" rating and a $95.00 target price on the stock. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday, September 11th. Finally, Barclays reiterated an "overweight" rating and issued a $91.00 target price (up from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $95.38.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $84.09 on Thursday. The firm has a 50 day moving average of $79.31 and a 200-day moving average of $69.70. The stock has a market capitalization of $4.67 billion, a PE ratio of 18.77, a PEG ratio of 1.97 and a beta of 1.15. The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 2.74. 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 (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.35. The company had revenue of $658.26 million for the quarter, compared to analyst estimates 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 was up 8.5% on a year-over-year basis. During the same period in the previous year, the firm 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. On average, equities research analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Tuesday, September 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.5%. Kontoor Brands's payout ratio is 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.

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