Kontoor Brands, Inc. $KTB Position Reduced by Algert Global LLC

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 position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 38.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Nuveen LLC purchased a new stake in Kontoor Brands during the 1st quarter worth about $19,837,000. Man Group plc boosted its holdings in shares of Kontoor Brands by 119.1% in the 4th 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. purchased a new position in shares of Kontoor Brands during the fourth quarter worth about $12,962,000. Ameriprise Financial Inc. grew its stake in Kontoor Brands by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock worth $115,755,000 after buying an additional 142,956 shares during the last quarter. Finally, Citigroup Inc. grew its position in shares of Kontoor Brands by 170.2% during the first quarter. Citigroup Inc. now owns 210,075 shares of the company's stock worth $13,472,000 after acquiring an additional 132,325 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on KTB shares. UBS Group boosted their price target on Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Wells Fargo & Company increased their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Stifel Nicolaus lifted their price objective on Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Friday, August 8th. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday, June 10th. 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 equities 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.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.67.

Kontoor Brands Stock Down 1.1%

Shares of KTB stock traded down $0.87 on Thursday, hitting $77.09. The stock had a trading volume of 64,490 shares, compared to its average volume of 733,913. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.95 and a current ratio of 2.18. The stock's 50 day moving average is $66.69 and its 200-day moving average is $66.56. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 17.21, a P/E/G ratio of 1.76 and a beta of 1.11. 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 announced its earnings results on Thursday, August 7th. The company reported $1.21 earnings per share (EPS) 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 business had revenue of $658.26 million for the quarter, compared to analyst estimates of $632.97 million. During the same period in the previous year, the company earned $0.98 earnings per share. The company's revenue for the quarter 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. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands's dividend payout ratio 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.