Russell Investments Group Ltd. lifted its holdings in Kontoor Brands, Inc. (NYSE:KTB – Free Report) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,643 shares of the company’s stock after purchasing an additional 6,029 shares during the quarter. Russell Investments Group Ltd. owned 0.12% of Kontoor Brands worth $4,146,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently modified their holdings of KTB. Nuveen LLC bought a new position in shares of Kontoor Brands in the first quarter worth $19,837,000. Man Group plc boosted its stake in Kontoor Brands by 119.1% during the fourth quarter. Man Group plc now owns 466,065 shares of the company’s stock valued at $39,807,000 after buying an additional 253,360 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Kontoor Brands during the fourth quarter valued at about $12,962,000. Ameriprise Financial Inc. boosted its stake in Kontoor Brands by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company’s stock valued at $115,755,000 after buying an additional 142,956 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in Kontoor Brands by 170.2% during the first quarter. Citigroup Inc. now owns 210,075 shares of the company’s stock valued at $13,472,000 after buying an additional 132,325 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.
Analyst Ratings Changes
Several research analysts recently weighed in on the company. Barclays reaffirmed an “overweight” rating and set a $91.00 target price (up previously from $86.00) on shares of Kontoor Brands in a research note on Friday, August 8th. Wall Street Zen raised Kontoor Brands from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Stifel Nicolaus raised their target price on Kontoor Brands from $72.00 to $73.00 and gave the company a “hold” rating in a research note on Friday, August 8th. The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the company a “buy” rating in a research note on Tuesday, June 10th. Finally, UBS Group raised their target price on Kontoor Brands from $92.00 to $99.00 and gave the company a “buy” rating in a research note on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.67.
Kontoor Brands Trading Up 7.4%
Shares of NYSE KTB opened at $77.3120 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 market cap of $4.30 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.65 and a beta of 1.11. The company has a quick ratio of 0.95, a current ratio of 2.18 and a debt-to-equity ratio of 2.74. The business has a fifty day simple moving average of $65.92 and a 200-day simple moving average of $66.77.
Kontoor Brands (NYSE:KTB – Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.86 by $0.35. The business had revenue of $658.26 million during the quarter, compared to the consensus estimate of $632.97 million. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.Kontoor Brands’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.98 earnings per share. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. Sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.
Kontoor Brands Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands’s dividend payout ratio is currently 46.43%.
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.
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