Texas Permanent School Fund Corp Has $3.99 Million Holdings in Kontoor Brands, Inc. $KTB

Texas Permanent School Fund Corp increased its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 56.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,478 shares of the company’s stock after purchasing an additional 21,736 shares during the period. Texas Permanent School Fund Corp owned approximately 0.11% of Kontoor Brands worth $3,990,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its position in shares of Kontoor Brands by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company’s stock worth $168,428,000 after buying an additional 1,044,921 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Kontoor Brands by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 1,623,778 shares of the company’s stock valued at $107,129,000 after acquiring an additional 32,630 shares in the last quarter. Invesco Ltd. lifted its holdings in Kontoor Brands by 54.2% in the 2nd quarter. Invesco Ltd. now owns 1,241,839 shares of the company’s stock worth $81,924,000 after purchasing an additional 436,246 shares during the last quarter. Northern Trust Corp boosted its position in Kontoor Brands by 1.0% during the first quarter. Northern Trust Corp now owns 1,134,524 shares of the company’s stock worth $72,757,000 after purchasing an additional 10,847 shares during the period. Finally, Jennison Associates LLC grew its holdings in Kontoor Brands by 3.1% during the second quarter. Jennison Associates LLC now owns 903,488 shares of the company’s stock valued at $59,603,000 after purchasing an additional 26,822 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Down 0.1%

Shares of KTB opened at $63.91 on Friday. 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 50-day simple moving average of $75.20 and a 200-day simple moving average of $72.51. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80. The firm has a market capitalization of $3.55 billion, a P/E ratio of 16.47 and a beta of 1.18.

Kontoor Brands (NYSE:KTB) last released its 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. The business 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%.The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $1.37 earnings per share. 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. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were paid a $0.53 dividend. The ex-dividend date was Monday, December 8th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.3%. Kontoor Brands’s dividend payout ratio is currently 54.64%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday. BNP Paribas set a $50.00 price target on Kontoor Brands in a research report on Tuesday, December 9th. Stifel Nicolaus boosted their price objective on Kontoor Brands from $73.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Finally, Robert W. Baird assumed coverage on Kontoor Brands in a report on Friday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.25.

Kontoor Brands 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.