First Trust Advisors LP Sells 8,065 Shares of Kontoor Brands, Inc. $KTB

First Trust Advisors LP cut its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 0.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 970,002 shares of the company’s stock after selling 8,065 shares during the quarter. First Trust Advisors LP’s holdings in Kontoor Brands were worth $63,991,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in Kontoor Brands in the first quarter valued at approximately $127,000. Deutsche Bank AG increased its position in shares of Kontoor Brands by 24.4% during the first quarter. Deutsche Bank AG now owns 63,986 shares of the company’s stock worth $4,103,000 after acquiring an additional 12,567 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Kontoor Brands by 170.2% during the first quarter. Citigroup Inc. now owns 210,075 shares of the company’s stock worth $13,472,000 after acquiring an additional 132,325 shares during the period. National Bank of Canada FI lifted its position in Kontoor Brands by 35.1% in the 1st quarter. National Bank of Canada FI now owns 5,103 shares of the company’s stock valued at $327,000 after acquiring an additional 1,325 shares in the last quarter. Finally, Aigen Investment Management LP boosted its stake in Kontoor Brands by 67.2% in the 1st quarter. Aigen Investment Management LP now owns 4,168 shares of the company’s stock worth $267,000 after purchasing an additional 1,675 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Up 1.1%

NYSE:KTB opened at $76.33 on Monday. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The firm has a market capitalization of $4.24 billion, a price-to-earnings ratio of 19.67 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 2.53. The stock’s 50 day moving average price is $77.61 and its two-hundred day moving average price is $72.72.

Kontoor Brands (NYSE:KTB) last released its earnings results on Monday, November 3rd. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate 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 was up 27.3% on a year-over-year basis. During the same period last year, the business earned $1.37 earnings per share. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS and its Q4 2025 guidance at 1.640-1.640 EPS. Equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company 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 $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date of this dividend is Monday, December 8th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. Kontoor Brands’s payout ratio is currently 53.61%.

Analyst Ratings Changes

A number of equities analysts have issued reports on KTB shares. Robert W. Baird initiated coverage on Kontoor Brands in a report on Friday, October 17th. They set an “outperform” rating and a $105.00 target price for the company. BTIG Research reaffirmed a “buy” rating and set a $95.00 price objective on shares of Kontoor Brands in a research report on Tuesday, November 4th. Stifel Nicolaus lifted their target price on Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Baird R W upgraded Kontoor Brands to a “strong-buy” rating in a research note on Friday, October 17th. Finally, Barclays upped their price target on Kontoor Brands from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price 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.