Wellington Management Group LLP Increases 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 raised its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 135.4% during the first quarter, according to the company in its most recent Form 13F 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 about 0.79% of Kontoor Brands worth $28,226,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. CX Institutional acquired a new position in Kontoor Brands in the first quarter valued at $32,000. Versant Capital Management Inc boosted its holdings in shares of Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after acquiring an additional 207 shares in the last quarter. Quarry LP boosted its holdings in shares of 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. boosted its holdings in shares of Kontoor Brands by 23.4% in the first quarter. Blue Trust Inc. now owns 1,446 shares of the company's stock valued at $93,000 after acquiring an additional 274 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Kontoor Brands in the fourth quarter valued at about $98,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Stifel Nicolaus lifted their target price on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. UBS Group lifted their target price on shares of Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a report on Friday, August 8th. Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Finally, Barclays reaffirmed an "overweight" rating and issued a $91.00 target price (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $89.67.

Kontoor Brands Price Performance

KTB stock traded down $1.30 during trading on Thursday, reaching $76.66. 527,621 shares of the company were exchanged, compared to its average volume of 736,808. The company has a market cap of $4.26 billion, a P/E ratio of 17.11, a PEG 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. The stock's 50 day moving average price is $66.69 and its 200 day moving average price is $66.56. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.95 and a current ratio of 2.18.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.35. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The company had revenue of $658.26 million for the quarter, compared to the consensus estimate of $632.97 million. During the same quarter in the prior year, the firm 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, 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 declared a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Tuesday, September 9th will be issued 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 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.