Meritage Portfolio Management Sells 41,858 Shares of Kontoor Brands, Inc. $KTB

by · The Markets Daily

Meritage Portfolio Management cut its stake in shares of Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 83.7% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,171 shares of the company’s stock after selling 41,858 shares during the quarter. Meritage Portfolio Management’s holdings in Kontoor Brands were worth $652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. raised its position in shares of Kontoor Brands by 73.0% during the third quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Kontoor Brands during the 2nd quarter valued at approximately $26,000. Salomon & Ludwin LLC increased its position in Kontoor Brands by 2,614.3% during the 3rd quarter. Salomon & Ludwin LLC now owns 380 shares of the company’s stock valued at $31,000 after purchasing an additional 366 shares during the period. First Horizon Corp bought a new position in Kontoor Brands during the 3rd quarter worth approximately $31,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Kontoor Brands in the 2nd quarter worth approximately $35,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Trading Up 1.1%

NYSE:KTB opened at $59.52 on Friday. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a current ratio of 1.91, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 15.34 and a beta of 1.21. The firm has a fifty day simple moving average of $67.23 and a two-hundred day simple moving average of $71.89.

Kontoor Brands (NYSE:KTB – Get Free Report) last released its quarterly earnings data 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. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. The company had revenue of $853.22 million for the quarter, compared to analysts’ expectations of $879.10 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The business’s 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 and its Q4 2025 guidance at 1.640-1.640 EPS. Analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were issued a dividend of $0.53 per share. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date was Monday, December 8th. Kontoor Brands’s dividend payout ratio is presently 54.64%.

Analyst Ratings Changes

A number of research firms have recently commented on KTB. UBS Group upped their price objective on shares of Kontoor Brands from $114.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c)” rating on shares of Kontoor Brands in a report on Monday, December 29th. Stifel Nicolaus upped their price target 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. BNP Paribas set a $50.00 price objective on Kontoor Brands in a research report on Tuesday, December 9th. Finally, Barclays set a $74.00 target price on Kontoor Brands in a research report on Tuesday, January 6th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.75.

View Our Latest Analysis on Kontoor Brands

Kontoor Brands Company Profile

(Free Report)

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.

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