Kontoor Brands, Inc. $KTB Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 1.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,919,091 shares of the company’s stock after selling 102,575 shares during the quarter. PNC Financial Services Group Inc. owned about 12.45% of Kontoor Brands worth $456,452,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vise Technologies Inc. acquired a new position in Kontoor Brands in the 2nd quarter valued at $256,000. Midwest Trust Co purchased a new stake in shares of Kontoor Brands in the second quarter valued at about $471,000. Campbell & CO Investment Adviser LLC boosted its holdings in shares of Kontoor Brands by 199.0% in the second quarter. Campbell & CO Investment Adviser LLC now owns 48,739 shares of the company’s stock valued at $3,215,000 after acquiring an additional 32,440 shares in the last quarter. Prospera Financial Services Inc acquired a new position in shares of Kontoor Brands during the second quarter worth about $647,000. Finally, Atlantic Union Bankshares Corp purchased a new position in Kontoor Brands during the second quarter worth about $26,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Down 0.8%

KTB opened at $71.33 on Wednesday. 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 price-to-earnings ratio of 18.38, a PEG ratio of 1.63 and a beta of 1.27. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The business’s fifty day moving average is $80.28 and its two-hundred day moving average is $72.07.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Monday, November 3rd. The company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.35 by $0.09. The business had revenue of $853.22 million during 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%.The business’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the company 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. Analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm 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 is a boost from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Monday, December 8th. Kontoor Brands’s dividend payout ratio (DPR) is currently 53.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Kontoor Brands from $90.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Robert W. Baird started coverage on Kontoor Brands in a research note on Friday, October 17th. They issued an “outperform” rating and a $105.00 price target on the stock. BTIG Research reaffirmed a “buy” rating and set a $95.00 price objective on shares of Kontoor Brands in a report on Tuesday, November 4th. Wall Street Zen cut Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Barclays boosted 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. One investment 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 company. Based on data from MarketBeat.com, the company presently 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.