Kontoor Brands, Inc. $KTB Shares Bought by Summit Global Investments

Summit Global Investments grew its position in Kontoor Brands, Inc. (NYSE:KTB) by 86.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,176 shares of the company’s stock after purchasing an additional 7,481 shares during the quarter. Summit Global Investments’ holdings in Kontoor Brands were worth $1,067,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Zurich Insurance Group Ltd FI purchased a new stake in Kontoor Brands in the first quarter valued at about $898,000. American Century Companies Inc. grew its stake in shares of Kontoor Brands by 9.4% during the first quarter. American Century Companies Inc. now owns 44,620 shares of the company’s stock worth $2,862,000 after acquiring an additional 3,846 shares during the last quarter. EP Wealth Advisors LLC acquired a new position in shares of Kontoor Brands during the first quarter valued at about $306,000. Fuller & Thaler Asset Management Inc. raised its position in shares of Kontoor Brands by 5.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,091,445 shares of the company’s stock valued at $69,994,000 after purchasing an additional 53,992 shares during the last quarter. Finally, Maverick Capital Ltd. boosted its stake in Kontoor Brands by 876.5% in the 1st quarter. Maverick Capital Ltd. now owns 29,001 shares of the company’s stock worth $1,860,000 after purchasing an additional 26,031 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on KTB shares. Weiss Ratings restated a “hold (c)” rating on shares of Kontoor Brands in a research note on Wednesday, November 19th. Wall Street Zen lowered shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. UBS Group raised their target price on Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. BTIG Research reaffirmed a “buy” rating and set a $95.00 price target on shares of Kontoor Brands in a research report on Tuesday, November 4th. Finally, Stifel Nicolaus increased their price objective on Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Kontoor Brands Trading Up 0.5%

NYSE KTB opened at $70.73 on Tuesday. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year 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. The company has a market capitalization of $3.93 billion, a PE ratio of 18.23 and a beta of 1.27. The company has a fifty day moving average of $78.57 and a 200 day moving average of $72.54.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Monday, November 3rd. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. The business had revenue of $853.22 million during 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 company’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business 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. Research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 8th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Monday, December 8th. 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 yield of 3.0%. Kontoor Brands’s dividend payout ratio is presently 53.61%.

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.