Zurich Insurance Group Ltd FI Takes Position in Kontoor Brands, Inc. $KTB

Key Points

• Zurich Insurance Group acquired 14,000 shares of Kontoor Brands, Inc. (NYSE:KTB) valued at approximately $898,000 during the 1st quarter of the year.
• Several analysts have recently increased their price targets for KTB, with UBS raising it from $92.00 to $99.00 and Wells Fargo from $85.00 to $90.00, indicating a generally positive outlook on the stock.
• Kontoor Brands announced a quarterly dividend of $0.52, which will be paid on September 19th, representing an annualized yield of 2.6%.

Zurich Insurance Group Ltd FI purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 14,000 shares of the company's stock, valued at approximately $898,000.

A number of other large investors have also added to or reduced their stakes in KTB. Bank of America Corp DE raised its stake in Kontoor Brands by 0.6% during the fourth quarter. Bank of America Corp DE now owns 431,390 shares of the company's stock valued at $36,845,000 after buying an additional 2,505 shares during the last quarter. Deutsche Bank AG raised its stake in shares of Kontoor Brands by 45.8% in the fourth quarter. Deutsche Bank AG now owns 51,419 shares of the company's stock worth $4,392,000 after purchasing an additional 16,148 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of Kontoor Brands by 33.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 30,735 shares of the company's stock worth $2,625,000 after purchasing an additional 7,640 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Kontoor Brands in the fourth quarter worth $278,000. Finally, Gotham Asset Management LLC raised its stake in shares of Kontoor Brands by 158.6% in the fourth quarter. Gotham Asset Management LLC now owns 30,285 shares of the company's stock worth $2,587,000 after purchasing an additional 18,575 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Wall Street Analysts Forecast Growth

KTB has been the subject of several recent analyst reports. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the stock a "buy" rating in a research note on Tuesday, June 10th. UBS Group lifted their price objective on Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Wells Fargo & Company lifted their price objective on Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a report on Thursday. Stifel Nicolaus boosted their price target on Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. Finally, Wall Street Zen upgraded Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus target price of $91.33.

Kontoor Brands Price Performance

Shares of NYSE:KTB traded up $0.53 during trading on Monday, hitting $81.46. 153,895 shares of the company's stock were exchanged, compared to its average volume of 724,948. 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, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The business's 50-day simple moving average is $69.63 and its 200 day simple moving average is $66.13. The company has a market cap of $4.53 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 1.85 and a beta of 1.10.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $1.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.35. The firm had revenue of $658.26 million during the quarter, compared to analysts' expectations of $632.97 million. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The firm's revenue was up 8.5% on a year-over-year basis. During the same quarter last 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. As a group, equities analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.6%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands's dividend payout ratio (DPR) is currently 46.43%.

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.