693,673 Shares in Kontoor Brands, Inc. $KTB Purchased by Norges Bank

Norges Bank acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 693,673 shares of the company’s stock, valued at approximately $45,762,000.

Other institutional investors also recently added to or reduced their stakes in the company. Atlantic Union Bankshares Corp purchased a new position in shares of Kontoor Brands during the 2nd quarter worth approximately $26,000. Ameritas Advisory Services LLC purchased a new stake in shares of Kontoor Brands in the second quarter valued at approximately $35,000. SVB Wealth LLC acquired a new position in Kontoor Brands during the first quarter worth $94,000. Advisors Asset Management Inc. raised its position in Kontoor Brands by 240.8% in the first quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company’s stock worth $112,000 after acquiring an additional 1,233 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Kontoor Brands by 196.7% in the second quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock worth $117,000 after acquiring an additional 1,176 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on KTB. BTIG Research reaffirmed a “buy” rating and set a $95.00 price target on shares of Kontoor Brands in a research note on Tuesday, November 4th. Stifel Nicolaus boosted their price objective on shares of Kontoor Brands from $73.00 to $75.00 and gave the stock a “hold” rating in a report on Tuesday, November 4th. Baird R W upgraded shares of Kontoor Brands to a “strong-buy” rating in a research report on Friday, October 17th. UBS Group lifted their price target on shares of Kontoor Brands from $114.00 to $118.00 and gave the company a “buy” rating in a research report on Tuesday, November 4th. Finally, Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $96.00.

Kontoor Brands Trading Up 1.1%

Shares of Kontoor Brands stock opened at $76.33 on Friday. 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 business has a 50 day moving average price of $77.61 and a 200 day moving average price of $72.71. The company has a market capitalization of $4.24 billion, a P/E ratio of 19.67 and a beta of 1.18.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.09. Kontoor Brands had a return on equity of 63.21% and a net margin of 7.68%.The company had revenue of $853.22 million during the quarter, compared to the consensus estimate of $879.10 million. During the same quarter last year, the business posted $1.37 earnings per share. Kontoor Brands’s revenue was up 27.3% compared to the same quarter last year. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS and its Q4 2025 guidance at 1.640-1.640 EPS. Sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Investors of record on Monday, December 8th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 2.8%. The ex-dividend date of this dividend is Monday, December 8th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. Kontoor Brands’s dividend payout ratio is presently 54.64%.

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.