Summit Global Investments Grows Holdings in Kontoor Brands, Inc. $KTB

Summit Global Investments grew its position in Kontoor Brands, Inc. (NYSE:KTB) by 86.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,176 shares of the company’s stock after acquiring an additional 7,481 shares during the period. Summit Global Investments’ holdings in Kontoor Brands were worth $1,067,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of KTB. JPMorgan Chase & Co. raised its holdings in Kontoor Brands by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company’s stock worth $168,428,000 after purchasing an additional 1,044,921 shares during the period. Nuveen LLC acquired a new stake in Kontoor Brands in the first quarter valued at approximately $19,837,000. Wellington Management Group LLP increased its position in shares of Kontoor Brands by 135.4% in the first quarter. Wellington Management Group LLP now owns 440,135 shares of the company’s stock valued at $28,226,000 after buying an additional 253,140 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Kontoor Brands by 639.3% during the 1st quarter. MetLife Investment Management LLC now owns 242,915 shares of the company’s stock worth $15,578,000 after buying an additional 210,059 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in shares of Kontoor Brands by 64.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 396,553 shares of the company’s stock valued at $25,431,000 after buying an additional 154,753 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on KTB shares. UBS Group boosted their price target on shares of Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. BTIG Research reissued 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 upped their price target on shares of Kontoor Brands from $73.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kontoor Brands in a report on Wednesday, November 19th. Finally, Robert W. Baird started coverage on Kontoor Brands in a research note on Friday, October 17th. They set an “outperform” rating and a $105.00 price objective for the company. One 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $70.73 on Tuesday. The firm has a 50-day simple moving average of $78.57 and a 200-day simple moving average of $72.54. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $3.93 billion, a price-to-earnings ratio of 18.23 and a beta of 1.27. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Monday, November 3rd. The company reported $1.44 earnings per share for the quarter, topping analysts’ consensus estimates of $1.35 by $0.09. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. The firm 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 business posted $1.37 earnings per share. Kontoor Brands’s quarterly revenue was up 27.3% on a year-over-year basis. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS. Q4 2025 guidance at 1.640-1.640 EPS. On average, 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 declared 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 dividend on an annualized basis and a dividend yield of 3.0%. This is a boost 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 currently 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.