Meritage Portfolio Management Reduces Position in Kontoor Brands, Inc. $KTB

Meritage Portfolio Management lessened its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.4% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 50,029 shares of the company’s stock after selling 1,217 shares during the quarter. Meritage Portfolio Management owned about 0.09% of Kontoor Brands worth $3,300,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in KTB. CWM LLC lifted its holdings in shares of Kontoor Brands by 10.1% during the second quarter. CWM LLC now owns 3,912 shares of the company’s stock worth $258,000 after purchasing an additional 358 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Kontoor Brands during the second quarter worth $238,000. Monument Capital Management acquired a new stake in shares of Kontoor Brands during the second quarter worth $244,000. Tectonic Advisors LLC lifted its holdings in shares of Kontoor Brands by 2.0% during the second quarter. Tectonic Advisors LLC now owns 20,124 shares of the company’s stock worth $1,328,000 after purchasing an additional 398 shares during the period. Finally, Maryland State Retirement & Pension System lifted its holdings in shares of Kontoor Brands by 1.7% during the second quarter. Maryland State Retirement & Pension System now owns 14,696 shares of the company’s stock worth $969,000 after purchasing an additional 250 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

NYSE KTB opened at $74.20 on Monday. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The stock has a market cap of $4.12 billion, a price-to-earnings ratio of 16.56, a price-to-earnings-growth ratio of 1.70 and a beta of 1.15. The business has a fifty day moving average of $76.10 and a 200-day moving average of $68.61. The company has a quick ratio of 0.95, a current ratio of 2.18 and a debt-to-equity ratio of 2.74.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.35. The company had revenue of $658.26 million during the quarter, compared to analysts’ expectations of $632.97 million. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.98 earnings per share. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. As a group, analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th were given a $0.52 dividend. The ex-dividend date of this dividend was Tuesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.8%. Kontoor Brands’s dividend payout ratio is presently 46.43%.

Analysts Set New Price Targets

KTB has been the subject of several recent analyst reports. Barclays reissued an “overweight” rating and issued a $91.00 price target (up from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Wells Fargo & Company raised their price target on Kontoor Brands from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. UBS Group raised their price target on Kontoor Brands from $92.00 to $99.00 and gave the company a “buy” rating in a report on Friday, August 8th. Wall Street Zen raised Kontoor Brands from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 9th. Finally, Stifel Nicolaus raised their price target on Kontoor Brands from $72.00 to $73.00 and gave the company a “hold” rating in a report on Friday, August 8th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.33.

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.