Kontoor Brands, Inc. $KTB Holdings Raised by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 604,987 shares of the company’s stock after purchasing an additional 7,349 shares during the period. Bank of New York Mellon Corp owned 1.09% of Kontoor Brands worth $39,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp increased its holdings in shares of Kontoor Brands by 1.0% in the 1st quarter. Northern Trust Corp now owns 1,134,524 shares of the company’s stock worth $72,757,000 after acquiring an additional 10,847 shares during the period. Fuller & Thaler Asset Management Inc. raised its position in Kontoor Brands by 5.2% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,091,445 shares of the company’s stock worth $69,994,000 after acquiring an additional 53,992 shares in the last quarter. Jennison Associates LLC raised its holdings in shares of Kontoor Brands by 3.1% in the 2nd quarter. Jennison Associates LLC now owns 903,488 shares of the company’s stock worth $59,603,000 after purchasing an additional 26,822 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Kontoor Brands by 135.4% in the first 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 in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Kontoor Brands by 64.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 396,553 shares of the company’s stock worth $25,431,000 after purchasing an additional 154,753 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Shares of KTB stock opened at $72.90 on Thursday. The stock’s fifty day simple moving average is $80.14 and its 200 day simple moving average is $72.08. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.91 and a quick ratio of 0.82. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The firm has a market cap of $4.05 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 1.62 and a beta of 1.27.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Monday, November 3rd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.09. The business had revenue of $853.22 million during the quarter, compared to analysts’ expectations of $879.10 million. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the company posted $1.37 EPS. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS. Q4 2025 guidance at 1.640-1.640 EPS. On average, analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, December 8th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 2.9%. Kontoor Brands’s dividend payout ratio (DPR) is currently 53.61%.

Analyst Ratings Changes

Several equities research analysts recently commented on KTB shares. Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Baird R W upgraded Kontoor Brands to a “strong-buy” rating in a report on Friday, October 17th. Barclays lifted their price objective on shares of Kontoor Brands from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kontoor Brands in a research report on Wednesday, October 8th. Finally, UBS Group upped their price target on shares of Kontoor Brands from $114.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

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.