Kontoor Brands, Inc. $KTB Shares Sold by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Kontoor Brands, Inc. by 7.2%, selling 62,524 shares, and now holds approximately 1.46% of the company, valued at around $51.66 million.
• Kontoor Brands has reported strong quarterly earnings, with an EPS of $1.21, surpassing estimates significantly, and a revenue increase of 8.5% year-over-year.
• The company announced a quarterly dividend of $0.52 per share, equating to an annualized dividend of $2.08, resulting in a dividend yield of 2.9%.

Invesco Ltd. decreased its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 7.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 805,593 shares of the company's stock after selling 62,524 shares during the period. Invesco Ltd. owned 1.46% of Kontoor Brands worth $51,663,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CX Institutional purchased a new position in shares of Kontoor Brands during the first quarter worth approximately $32,000. Versant Capital Management Inc lifted its position in shares of Kontoor Brands by 46.7% during the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after buying an additional 207 shares during the last quarter. Quarry LP boosted its stake in Kontoor Brands by 161.3% in the fourth quarter. Quarry LP now owns 729 shares of the company's stock valued at $62,000 after acquiring an additional 450 shares in the last quarter. Blue Trust Inc. grew its stake in Kontoor Brands by 23.4% during the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock worth $93,000 after buying an additional 274 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in Kontoor Brands during the 4th quarter worth $98,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Price Performance

Kontoor Brands stock traded up $5.19 during trading hours on Friday, hitting $77.18. The stock had a trading volume of 163,701 shares, compared to its average volume of 737,421. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95. The stock has a market capitalization of $4.29 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.65 and a beta of 1.11. The stock's fifty day moving average is $65.61 and its two-hundred day moving average is $66.85. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year 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. The company had revenue of $658.26 million during the quarter, compared to analysts' expectations of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share. 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, analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal 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 dividend of $0.52 per share. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.7%. Kontoor Brands's payout ratio is presently 46.43%.

Wall Street Analyst Weigh In

Several research firms have recently commented on KTB. The Goldman Sachs Group set a $85.00 price objective on shares of Kontoor Brands and gave the stock a "buy" rating in a research note on Tuesday, June 10th. Barclays reaffirmed an "overweight" rating and issued a $91.00 price objective (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. UBS Group upped their price objective 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 target price 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. Finally, Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $89.67.

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.