Victory Capital Management Inc. cut its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 74.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 211,633 shares of the company's stock after selling 606,416 shares during the quarter. Victory Capital Management Inc. owned about 0.38% of Kontoor Brands worth $13,572,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in the business. Mendel Money Management lifted its position in Kontoor Brands by 2.8% during the fourth quarter. Mendel Money Management now owns 4,934 shares of the company's stock worth $421,000 after buying an additional 135 shares during the period. Quadrant Capital Group LLC increased its stake in Kontoor Brands by 14.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock worth $101,000 after acquiring an additional 145 shares during the last quarter. Huntington National Bank increased its stake in Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after acquiring an additional 148 shares during the last quarter. Beacon Pointe Advisors LLC increased its stake in Kontoor Brands by 3.4% during the fourth quarter. Beacon Pointe Advisors LLC now owns 6,206 shares of the company's stock worth $530,000 after acquiring an additional 202 shares during the last quarter. Finally, TD Private Client Wealth LLC increased its stake in Kontoor Brands by 12.7% during the first quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock worth $115,000 after acquiring an additional 203 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
Kontoor Brands Stock Performance
Shares of NYSE KTB traded down $0.67 during mid-day trading on Friday, hitting $62.43. The company had a trading volume of 515,959 shares, compared to its average volume of 646,924. The stock has a market cap of $3.47 billion, a price-to-earnings ratio of 15.30, a PEG ratio of 1.50 and a beta of 1.12. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65. The firm's 50 day simple moving average is $67.32 and its two-hundred day simple moving average is $69.87.
Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The business's revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. As a group, equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.
Kontoor Brands Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.33%. Kontoor Brands's payout ratio is currently 50.98%.
Analyst Ratings Changes
KTB has been the subject of several research analyst reports. Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. UBS Group increased their target price on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Barclays increased their target price on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research note on Tuesday, May 20th. The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. Finally, Wells Fargo & Company increased their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $87.50.
Read Our Latest Stock Analysis on KTB
About Kontoor Brands
(
Free Report)
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.
Further Reading
Before you consider Kontoor Brands, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Kontoor Brands wasn't on the list.
While Kontoor Brands currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
