Midwest Trust Co Invests $471,000 in Kontoor Brands, Inc. $KTB

Midwest Trust Co bought a new stake in Kontoor Brands, Inc. (NYSE:KTB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,145 shares of the company’s stock, valued at approximately $471,000.

A number of other large investors have also made changes to their positions in the company. Atlantic Union Bankshares Corp purchased a new stake in shares of Kontoor Brands during the 2nd quarter valued at about $26,000. Ameritas Advisory Services LLC bought a new position in Kontoor Brands in the second quarter worth approximately $35,000. SVB Wealth LLC purchased a new position in shares of Kontoor Brands during the 1st quarter worth $94,000. Advisors Asset Management Inc. increased its stake in shares of Kontoor Brands by 240.8% in the 1st quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company’s stock worth $112,000 after purchasing an additional 1,233 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Kontoor Brands by 196.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock worth $117,000 after purchasing an additional 1,176 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Trading Down 0.8%

Shares of NYSE KTB opened at $71.33 on Wednesday. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The firm has a market cap of $3.97 billion, a PE ratio of 18.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The business has a fifty day simple moving average of $80.28 and a two-hundred day simple moving average of $72.07. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 2.53.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Monday, November 3rd. The company reported $1.44 EPS for the quarter, beating the consensus estimate of $1.35 by $0.09. The firm had revenue of $853.22 million for the quarter, compared to analyst estimates of $879.10 million. Kontoor Brands had a return on equity of 63.21% and a net margin of 7.68%.The business’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 earnings per share. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS. Q4 2025 guidance at 1.640-1.640 EPS. 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 disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 8th will be paid a dividend of $0.53 per share. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date is Monday, December 8th. Kontoor Brands’s payout ratio is 53.61%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday. BTIG Research restated a “buy” rating and set a $95.00 target price on shares of Kontoor Brands in a research note on Tuesday, November 4th. Stifel Nicolaus increased their price objective on shares of Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Barclays upped their target price on shares of Kontoor Brands from $91.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company lifted their price target on shares of Kontoor Brands from $90.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, September 11th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock 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.