Massachusetts Wealth Management Grows Stock Holdings in Kontoor Brands, Inc. $KTB

Massachusetts Wealth Management raised its stake in Kontoor Brands, Inc. (NYSE:KTB) by 592.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 27,410 shares of the company’s stock after buying an additional 23,450 shares during the quarter. Massachusetts Wealth Management’s holdings in Kontoor Brands were worth $2,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KTB. Harbor Capital Advisors Inc. boosted its stake in shares of Kontoor Brands by 73.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock worth $25,000 after acquiring an additional 130 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Kontoor Brands during the second quarter worth $26,000. Ameritas Advisory Services LLC purchased a new stake in Kontoor Brands during the second quarter worth $35,000. EverSource Wealth Advisors LLC grew its holdings in Kontoor Brands by 118.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,469 shares of the company’s stock valued at $97,000 after purchasing an additional 797 shares during the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of Kontoor Brands by 240.8% in the first quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company’s stock valued at $112,000 after buying an additional 1,233 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Wall Street Zen lowered shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Weiss Ratings restated a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday. Barclays upped their price target on shares of Kontoor Brands from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. BNP Paribas set a $50.00 price objective on shares of Kontoor Brands in a research note on Tuesday, December 9th. Finally, Stifel Nicolaus lifted 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. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.25.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $61.01 on Thursday. The stock has a market capitalization of $3.39 billion, a P/E ratio of 15.72 and a beta of 1.18. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month 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 firm’s 50-day moving average is $71.54 and its two-hundred day moving average is $72.25.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Monday, November 3rd. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 7.68% and a return on equity of 63.21%. The company’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $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. Equities analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were issued 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 yield of 3.5%. Kontoor Brands’s payout ratio is presently 54.64%.

About Kontoor Brands

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.