Kontoor Brands, Inc. $KTB Stake Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 31.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 180,422 shares of the company’s stock after buying an additional 43,378 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Kontoor Brands were worth $14,805,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Harbor Capital Advisors Inc. increased its position in Kontoor Brands by 73.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. CWM LLC lifted its holdings in shares of Kontoor Brands by 4.0% during the 3rd quarter. CWM LLC now owns 4,069 shares of the company’s stock valued at $325,000 after buying an additional 157 shares during the last quarter. Maryland State Retirement & Pension System grew its stake in shares of Kontoor Brands by 1.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 14,696 shares of the company’s stock valued at $969,000 after buying an additional 250 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Kontoor Brands by 0.9% in the 2nd quarter. Thrivent Financial for Lutherans now owns 36,769 shares of the company’s stock valued at $2,426,000 after buying an additional 317 shares in the last quarter. Finally, Yousif Capital Management LLC increased its holdings in Kontoor Brands by 1.8% in the second quarter. Yousif Capital Management LLC now owns 18,779 shares of the company’s stock worth $1,239,000 after buying an additional 331 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. BNP Paribas set a $50.00 target price on shares of Kontoor Brands in a research note on Tuesday, December 9th. Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kontoor Brands in a research note on Monday, December 29th. BTIG Research reiterated a “buy” rating and issued a $95.00 price objective on shares of Kontoor Brands in a report on Tuesday, November 4th. Finally, 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 on the stock. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and an average target price of $90.25.

Kontoor Brands Stock Up 0.5%

KTB stock opened at $61.40 on Monday. The stock has a market capitalization of $3.41 billion, a price-to-earnings ratio of 15.83 and a beta of 1.21. The company has a 50-day moving average of $70.57 and a two-hundred day moving average of $72.27. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. 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 (NYSE:KTB) last posted its quarterly earnings data on Monday, November 3rd. The company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.35 by $0.09. Kontoor Brands had a return on equity of 63.21% and a net margin of 7.68%.The business had revenue of $853.22 million for the quarter, compared to analyst estimates of $879.10 million. During the same period in the previous year, the company posted $1.37 earnings per share. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. 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. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were given a $0.53 dividend. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date of this dividend was Monday, December 8th. Kontoor Brands’s dividend payout ratio (DPR) is currently 54.64%.

Kontoor Brands Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.