Intech Investment Management LLC Purchases 18,869 Shares of Kontoor Brands, Inc. $KTB

Key Points

• Intech Investment Management LLC increased its holdings in Kontoor Brands by 69.1%, acquiring 18,869 shares during the first quarter, bringing its total to 46,189 shares valued at approximately $2.96 million.
• Several hedge funds have significantly increased their positions in Kontoor Brands, with Nuveen LLC purchasing a new stake valued at $19.8 million and MetLife Investment Management LLC raising its stake by 639.3%.
• Kontoor Brands reported $1.21 EPS for the last quarter, exceeding analysts' expectations of $0.86, and set a FY 2025 guidance at 5.450 EPS.

Intech Investment Management LLC raised its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 69.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 46,189 shares of the company's stock after acquiring an additional 18,869 shares during the quarter. Intech Investment Management LLC owned approximately 0.08% of Kontoor Brands worth $2,962,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Nuveen LLC bought a new stake in Kontoor Brands during the 1st quarter valued at $19,837,000. Wellington Management Group LLP boosted its stake in shares of Kontoor Brands by 135.4% in the first quarter. Wellington Management Group LLP now owns 440,135 shares of the company's stock worth $28,226,000 after buying an additional 253,140 shares during the last quarter. MetLife Investment Management LLC lifted its stake in shares of Kontoor Brands by 639.3% in the 1st quarter. MetLife Investment Management LLC now owns 242,915 shares of the company's stock valued at $15,578,000 after purchasing an additional 210,059 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Kontoor Brands by 64.0% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 396,553 shares of the company's stock worth $25,431,000 after purchasing an additional 154,753 shares during the period. Finally, Nomura Holdings Inc. raised its position in 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 period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on KTB shares. 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 note on Tuesday, June 10th. UBS Group boosted their price target on shares of Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a research note on Friday, August 8th. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $90.00 to $100.00 and gave the stock an "overweight" rating in a research note on Thursday. Stifel Nicolaus boosted their target price on Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research note on Friday, August 8th. Finally, Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Kontoor Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.33.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $81.09 on Monday. The company has a quick ratio of 0.95, a current ratio of 2.18 and a debt-to-equity ratio of 2.74. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80. The firm's 50-day simple moving average is $69.63 and its 200 day simple moving average is $66.13. The firm has a market capitalization of $4.51 billion, a PE ratio of 18.10, a P/E/G ratio of 1.85 and a beta of 1.10.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.21 EPS for the quarter, topping analysts' consensus estimates 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 quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. 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 predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 9th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands's payout ratio is presently 46.43%.

Kontoor Brands 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.

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