Wellington Management Group LLP Has $28.23 Million Stock Position in Kontoor Brands, Inc. $KTB

Key Points

• Wellington Management Group LLP increased its holdings in Kontoor Brands by 135.4% in Q1, acquiring 253,140 additional shares, bringing their total to 440,135 shares valued at approximately $28.2 million.
• KTB's stock price has been dynamic, currently trading at $77.31 with a 12-month low of $50.00 and a high of $96.80; the company has a market cap of $4.30 billion.
• Kontoor Brands reported earnings of $1.21 per share, exceeding estimates and showcasing a 9.48% net margin, while setting EPS guidance for FY 2025 at $5.450.

Wellington Management Group LLP grew its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 135.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 440,135 shares of the company's stock after purchasing an additional 253,140 shares during the quarter. Wellington Management Group LLP owned 0.79% of Kontoor Brands worth $28,226,000 as of its most recent filing with the SEC.

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

Wall Street Analyst Weigh In

KTB has been the topic of several research analyst reports. Wells Fargo & Company lifted their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Barclays restated an "overweight" rating and issued a $91.00 target price (up from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Wall Street Zen upgraded Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. UBS Group lifted their target price on Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Finally, Stifel Nicolaus lifted their target price on Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Kontoor Brands presently has an average rating of "Moderate Buy" and a consensus price target of $89.67.

Kontoor Brands Stock Up 0.6%

Shares of Kontoor Brands stock traded up $0.49 during midday trading on Friday, hitting $77.22. The company's stock had a trading volume of 909,931 shares, compared to its average volume of 883,378. The firm has a market capitalization of $4.29 billion, a P/E ratio of 17.24, a PEG ratio of 1.77 and a beta of 1.11. The stock has a 50-day simple moving average of $67.21 and a 200-day simple moving average of $66.38. 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 1-year low of $50.00 and a 1-year high of $96.80.

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, topping the consensus estimate of $0.86 by $0.35. The business 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%.Kontoor Brands's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm 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, sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands's dividend payout ratio (DPR) is 46.43%.

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.