Texas Permanent School Fund Corp Acquires 21,736 Shares of Kontoor Brands, Inc. $KTB

Texas Permanent School Fund Corp increased its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 56.1% in the 2nd quarter, according to its most recent disclosure with the Securities & 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’s holdings in Kontoor Brands were worth $3,990,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Kontoor Brands by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company’s stock valued at $168,428,000 after purchasing an additional 1,044,921 shares in the last quarter. Geode Capital Management LLC raised its holdings 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 worth $107,129,000 after buying an additional 32,630 shares in the last quarter. Invesco Ltd. lifted its position in shares of Kontoor Brands by 54.2% during the 2nd quarter. Invesco Ltd. now owns 1,241,839 shares of the company’s stock worth $81,924,000 after buying an additional 436,246 shares during the period. Northern Trust Corp lifted its position in shares of Kontoor Brands by 1.0% during the 1st quarter. Northern Trust Corp now owns 1,134,524 shares of the company’s stock worth $72,757,000 after buying an additional 10,847 shares during the period. Finally, Jennison Associates LLC boosted its stake in Kontoor Brands by 3.1% in the 2nd quarter. Jennison Associates LLC now owns 903,488 shares of the company’s stock valued at $59,603,000 after buying an additional 26,822 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on KTB. Robert W. Baird assumed 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. Baird R W raised shares of Kontoor Brands to a “strong-buy” rating in a report on Friday, October 17th. Stifel Nicolaus increased their target price 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 restated a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday. Finally, BNP Paribas set a $50.00 price objective on shares of Kontoor Brands in a research note on Tuesday, December 9th. One 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $90.25.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $63.91 on Friday. The stock has a 50-day simple moving average of $75.20 and a 200 day simple moving average of $72.51. The stock has a market capitalization of $3.55 billion, a price-to-earnings ratio of 16.47 and a beta of 1.18. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 2.53. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Monday, November 3rd. The company reported $1.44 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 firm had revenue of $853.22 million for the quarter, compared to analyst estimates of $879.10 million. During the same quarter in the prior year, the firm earned $1.37 EPS. The company’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. On average, research analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Shareholders of record on Monday, December 8th were issued a dividend of $0.53 per share. The ex-dividend date of this dividend was Monday, December 8th. This represents a $2.12 annualized dividend and a yield of 3.3%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. Kontoor Brands’s dividend payout ratio (DPR) is currently 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.