State of New Jersey Common Pension Fund D Boosts Stock Position in Kontoor Brands, Inc. $KTB

State of New Jersey Common Pension Fund D increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 18.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,520 shares of the company’s stock after acquiring an additional 4,070 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Kontoor Brands were worth $1,750,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Ameritas Advisory Services LLC acquired a new position in Kontoor Brands in the 2nd quarter valued at about $35,000. SVB Wealth LLC purchased a new position in shares of Kontoor Brands in the first quarter valued at approximately $94,000. Advisors Asset Management Inc. grew its holdings 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 purchasing an additional 1,233 shares in the last quarter. GAMMA Investing LLC increased its stake in Kontoor Brands by 196.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,774 shares of the company’s stock worth $117,000 after buying an additional 1,176 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in Kontoor Brands by 12.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company’s stock worth $115,000 after buying an additional 203 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Down 0.0%

Kontoor Brands stock opened at $81.12 on Monday. The stock’s fifty day moving average is $80.85 and its two-hundred day moving average is $71.35. The stock has a market cap of $4.51 billion, a PE ratio of 18.11, a P/E/G ratio of 1.85 and a beta of 1.27. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.35. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The business had revenue of $658.26 million for the quarter, compared to the consensus estimate of $632.97 million. During the same quarter in the prior year, the business posted $0.98 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. On average, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 8th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Monday, December 8th. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.6%. Kontoor Brands’s dividend payout ratio is 46.43%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on KTB shares. UBS Group raised their price target on shares of Kontoor Brands from $99.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, October 15th. Wall Street Zen raised Kontoor Brands from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Robert W. Baird assumed coverage on Kontoor Brands in a report on Friday, October 17th. They set an “outperform” rating and a $105.00 price target on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kontoor Brands in a research note on Wednesday, October 8th. Finally, Baird R W raised Kontoor Brands to a “strong-buy” rating in a research report on Friday, October 17th. One research 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.71.

About Kontoor Brands

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.