Midwest Trust Co Makes New $471,000 Investment in Kontoor Brands, Inc. $KTB

Midwest Trust Co purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 7,145 shares of the company’s stock, valued at approximately $471,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp grew its holdings in Kontoor Brands by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 597,638 shares of the company’s stock worth $38,327,000 after purchasing an additional 10,748 shares during the last quarter. Allworth Financial LP grew its stake in Kontoor Brands by 192.7% during the 1st quarter. Allworth Financial LP now owns 8,344 shares of the company’s stock worth $521,000 after buying an additional 5,493 shares during the last quarter. Xponance Inc. increased its position in Kontoor Brands by 5.1% during the 1st quarter. Xponance Inc. now owns 4,230 shares of the company’s stock valued at $271,000 after buying an additional 205 shares in the last quarter. Stephens Inc. AR raised its stake in Kontoor Brands by 11.5% in the first quarter. Stephens Inc. AR now owns 3,198 shares of the company’s stock valued at $205,000 after buying an additional 330 shares during the last quarter. Finally, CWM LLC boosted its holdings in Kontoor Brands by 77.1% in the first quarter. CWM LLC now owns 3,554 shares of the company’s stock worth $228,000 after acquiring an additional 1,547 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Down 0.8%

Shares of Kontoor Brands stock opened at $71.33 on Wednesday. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 1.91. The company has a market cap of $3.97 billion, a P/E ratio of 18.38, a price-to-earnings-growth ratio of 1.63 and a beta of 1.27. The firm has a 50-day simple moving average of $80.28 and a two-hundred day simple moving average of $72.07.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Monday, November 3rd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.09. The company had revenue of $853.22 million for the quarter, compared to the consensus estimate of $879.10 million. Kontoor Brands had a return on equity of 63.21% and a net margin of 7.68%.Kontoor Brands’s revenue for the quarter was up 27.3% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, equities analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 8th will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.0%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. The ex-dividend date is Monday, December 8th. Kontoor Brands’s dividend payout ratio (DPR) is 53.61%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KTB shares. Wall Street Zen cut shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Barclays boosted their price target on Kontoor Brands from $91.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Baird R W upgraded shares of Kontoor Brands to a “strong-buy” rating in a research note on Friday, October 17th. Stifel Nicolaus boosted their target price on shares of Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company increased their price target on Kontoor Brands from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.00.

About Kontoor Brands

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.