Algert Global LLC Has $1.13 Million Holdings in Kontoor Brands, Inc. $KTB

Key Points

• Algert Global LLC reduced its stake in Kontoor Brands, Inc. by 38.6%, selling 11,070 shares and holding 17,580 shares valued at approximately $1,127,000.
• Several institutional investors significantly increased their positions in Kontoor Brands, including Renaissance Technologies, which raised its stake by 395.2%, owning 30,700 shares valued at $2,622,000.
• Kontoor Brands reported strong quarterly earnings with an EPS of $1.21, surpassing expectations and showing an 8.5% revenue increase year-over-year.

Algert Global LLC cut its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 38.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,580 shares of the company's stock after selling 11,070 shares during the quarter. Algert Global LLC's holdings in Kontoor Brands were worth $1,127,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KTB. CX Institutional bought a new stake in shares of Kontoor Brands in the 1st quarter valued at about $32,000. Versant Capital Management Inc increased its stake in shares of Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after acquiring an additional 207 shares during the last quarter. Quarry LP increased its stake in shares of Kontoor Brands by 161.3% in the 4th quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after acquiring an additional 450 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Kontoor Brands by 23.4% in the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after acquiring an additional 274 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Kontoor Brands in the 4th quarter valued at about $98,000. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Stock Up 1.0%

Shares of KTB traded up $0.78 on Wednesday, hitting $77.40. The company's stock had a trading volume of 210,927 shares, compared to its average volume of 735,676. 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 firm's fifty day moving average price is $66.42 and its 200-day moving average price is $66.48. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.75 and a beta of 1.11.

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, topping 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 firm had revenue of $658.26 million during the quarter, compared to the consensus estimate of $632.97 million. During the same quarter in the prior year, the firm posted $0.98 EPS. The business's revenue 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, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

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 given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, September 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Kontoor Brands's dividend payout ratio is 46.43%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on KTB shares. UBS Group upped their price target on Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Stifel Nicolaus upped their price target on Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a research note on Friday, August 8th. Barclays reiterated an "overweight" rating and issued a $91.00 price objective (up from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the company a "buy" rating in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company boosted their price objective on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of "Moderate Buy" and a consensus target price of $89.67.

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.