Gabelli Funds LLC Invests $4.92 Million in Kontoor Brands, Inc. $KTB

Gabelli Funds LLC purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 74,609 shares of the company’s stock, valued at approximately $4,922,000. Gabelli Funds LLC owned about 0.13% of Kontoor Brands as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KTB. Atlantic Union Bankshares Corp bought a new stake in Kontoor Brands during the second quarter worth about $26,000. Ameritas Advisory Services LLC bought a new stake in Kontoor Brands during the 2nd quarter worth approximately $35,000. SVB Wealth LLC acquired a new stake in Kontoor Brands during the 1st quarter valued at $94,000. EverSource Wealth Advisors LLC raised its position in Kontoor Brands by 118.6% in the 2nd 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. boosted its stake in Kontoor Brands by 240.8% in the first quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company’s stock worth $112,000 after purchasing an additional 1,233 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Robert W. Baird began coverage on Kontoor Brands in a research note on Friday, October 17th. They issued an “outperform” rating and a $105.00 target price for the company. UBS Group increased their price objective on shares of Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. BTIG Research reiterated a “buy” rating and set a $95.00 target price on shares of Kontoor Brands in a research report on Tuesday, November 4th. Finally, BNP Paribas set a $50.00 price target on shares of Kontoor Brands in a research note on Tuesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Kontoor Brands currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.25.

Kontoor Brands Stock Down 9.2%

Shares of NYSE:KTB opened at $67.32 on Wednesday. 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 stock has a market cap of $3.74 billion, a price-to-earnings ratio of 17.35 and a beta of 1.18. The company has a 50 day moving average of $77.27 and a 200-day moving average of $72.72. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Monday, November 3rd. The company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.35 by $0.09. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. The business had revenue of $853.22 million for the quarter, compared to analyst estimates of $879.10 million. During the same period in the prior year, the business posted $1.37 earnings per share. Kontoor Brands’s revenue was up 27.3% compared to the same quarter last year. 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, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 8th will be given a $0.53 dividend. The ex-dividend date is Monday, December 8th. This represents a $2.12 annualized dividend and a dividend yield of 3.1%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.52. Kontoor Brands’s dividend payout ratio is 54.64%.

Kontoor Brands 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.