Fox Run Management L.L.C. Buys Shares of 4,277 Kontoor Brands, Inc. $KTB

Key Points

• Fox Run Management L.L.C. acquired 4,277 shares of Kontoor Brands, Inc. valued at approximately $274,000, as part of their recent investment strategy.
• Kontoor Brands reported strong quarterly earnings, with an EPS of $1.21, outperforming estimates by $0.35, and revenue of $658.26 million, exceeding analysts' expectations.
• The company recently declared a quarterly dividend of $0.52, which reflects a 2.9% yield, and will be paid to shareholders on September 19th.

Fox Run Management L.L.C. 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 4,277 shares of the company's stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in KTB. Wells Fargo & Company MN lifted its position in Kontoor Brands by 44.1% during the fourth quarter. Wells Fargo & Company MN now owns 43,379 shares of the company's stock valued at $3,705,000 after buying an additional 13,276 shares during the period. Renaissance Technologies LLC increased its stake in shares of Kontoor Brands by 395.2% in the 4th quarter. Renaissance Technologies LLC now owns 30,700 shares of the company's stock worth $2,622,000 after acquiring an additional 24,500 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Kontoor Brands during the 4th quarter valued at about $6,314,000. Barclays PLC lifted its position in Kontoor Brands by 3.2% during the 4th quarter. Barclays PLC now owns 104,770 shares of the company's stock valued at $8,948,000 after acquiring an additional 3,248 shares during the period. Finally, XTX Topco Ltd bought a new stake in Kontoor Brands during the fourth quarter worth about $446,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. UBS Group lifted their target price on shares of Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a report on Friday, August 8th. Stifel Nicolaus raised their price objective on Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a research report on Friday, August 8th. Wall Street Zen raised Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Wells Fargo & Company raised their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Barclays reaffirmed an "overweight" rating and issued a $91.00 price target (up previously from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $89.67.

Kontoor Brands Stock Performance

NYSE:KTB traded down $0.9830 during trading hours on Monday, reaching $76.4270. The company had a trading volume of 684,619 shares, compared to its average volume of 935,641. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 1.77 and a beta of 1.11. The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 2.74. The firm's 50 day moving average price is $66.16 and its 200-day moving average price is $66.41. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.35. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The firm had revenue of $658.26 million for the quarter, compared to analysts' expectations of $632.97 million. During the same period in the prior year, the firm earned $0.98 EPS. The company's revenue was up 8.5% compared to the same quarter last year. 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, analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be given 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 (DPR) is presently 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.