Bayforest Capital Ltd Grows Stake in Kontoor Brands, Inc. $KTB

Key Points

• Bayforest Capital Ltd increased its stake in Kontoor Brands by 413.5% during Q2, owning 17,905 shares worth approximately $1.18 million, making it the firm's 16th largest investment.
• Kontoor Brands reported a quarterly EPS of $1.21, surpassing analysts' estimates by $0.35, with revenue of $658.26 million, an 8.5% year-over-year increase.
• The company recently declared a quarterly dividend of $0.52 per share, representing an annualized dividend yield of 2.6%.

Bayforest Capital Ltd raised its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 413.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,905 shares of the company's stock after purchasing an additional 14,418 shares during the quarter. Kontoor Brands comprises about 0.5% of Bayforest Capital Ltd's investment portfolio, making the stock its 16th biggest position. Bayforest Capital Ltd's holdings in Kontoor Brands were worth $1,181,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in KTB. Nuveen LLC purchased a new position in Kontoor Brands in the first quarter valued at about $19,837,000. Wellington Management Group LLP raised its position in Kontoor Brands by 135.4% in the first quarter. Wellington Management Group LLP now owns 440,135 shares of the company's stock valued at $28,226,000 after purchasing an additional 253,140 shares during the period. MetLife Investment Management LLC increased its position in shares of Kontoor Brands by 639.3% during the first quarter. MetLife Investment Management LLC now owns 242,915 shares of the company's stock worth $15,578,000 after acquiring an additional 210,059 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Kontoor Brands by 64.0% during the first quarter. T. Rowe Price Investment Management Inc. now owns 396,553 shares of the company's stock worth $25,431,000 after acquiring an additional 154,753 shares during the last quarter. Finally, Nomura Holdings Inc. increased its position in shares of Kontoor Brands by 694.3% during the first quarter. Nomura Holdings Inc. now owns 175,900 shares of the company's stock worth $11,280,000 after acquiring an additional 153,754 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Stock Up 5.8%

Shares of Kontoor Brands stock opened at $78.61 on Tuesday. 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 has a market cap of $4.37 billion, a P/E ratio of 17.55, a P/E/G ratio of 1.70 and a beta of 1.15. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The business has a 50-day moving average price of $76.53 and a 200 day moving average price of $68.71.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating 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 company had revenue of $658.26 million during the quarter, compared to the consensus estimate of $632.97 million. During the same period in the previous year, the firm posted $0.98 earnings per share. Kontoor Brands's quarterly 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, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.6%. Kontoor Brands's payout ratio is currently 46.43%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on KTB. UBS Group lifted their target price on Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Stifel Nicolaus lifted their target price on Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Kontoor Brands in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their target price on Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, September 11th. Finally, Wall Street Zen raised Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $91.33.

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.

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