American Century Companies Inc. Grows Stock Position in Kontoor Brands, Inc. $KTB

Key Points

• American Century Companies Inc. increased its stake in Kontoor Brands by 9.4%, now holding approximately 44,620 shares valued at $2.86 million.
• Kontoor Brands reported earnings of $1.21 per share for the recent quarter, surpassing estimates by $0.35, with revenues rising 8.5% year-over-year.
• The company declared a quarterly dividend of $0.52 per share, translating to an annual yield of 2.7%, with a payout ratio of 46.43%.

American Century Companies Inc. raised its position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 9.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,620 shares of the company's stock after acquiring an additional 3,846 shares during the quarter. American Century Companies Inc. owned approximately 0.08% of Kontoor Brands worth $2,862,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Fox Run Management L.L.C. acquired a new position in shares of Kontoor Brands during the first quarter valued at approximately $274,000. Russell Investments Group Ltd. increased its holdings in shares of Kontoor Brands by 10.3% in the first quarter. Russell Investments Group Ltd. now owns 64,643 shares of the company's stock valued at $4,146,000 after purchasing an additional 6,029 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Kontoor Brands by 47.5% in the first quarter. Public Sector Pension Investment Board now owns 182,431 shares of the company's stock valued at $11,699,000 after purchasing an additional 58,742 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Kontoor Brands in the first quarter valued at approximately $19,837,000. Finally, Aigen Investment Management LP increased its holdings in shares of Kontoor Brands by 67.2% in the first quarter. Aigen Investment Management LP now owns 4,168 shares of the company's stock valued at $267,000 after purchasing an additional 1,675 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Analyst Ratings Changes

KTB has been the subject of several recent research reports. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Wells Fargo & Company increased their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Stifel Nicolaus increased their price target on Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. Barclays reaffirmed an "overweight" rating and issued a $91.00 price target (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Finally, UBS Group increased their price target on Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $89.67.

Kontoor Brands Trading Up 0.8%

Shares of NYSE KTB traded up $0.61 during trading on Thursday, reaching $80.18. The stock had a trading volume of 120,958 shares, compared to its average volume of 731,850. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.74, a quick ratio of 0.95 and a current ratio of 2.18. The business's 50-day moving average price is $68.07 and its 200-day moving average price is $66.39. The company has a market cap of $4.46 billion, a P/E ratio of 17.90, a PEG ratio of 1.77 and a beta of 1.10.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, beating analysts' consensus estimates 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%.The company's revenue was up 8.5% on a year-over-year basis. During the same period in the previous 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. 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. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.6%. Kontoor Brands's dividend payout ratio (DPR) is 46.43%.

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.