Maverick Capital Ltd. Purchases 26,031 Shares of Kontoor Brands, Inc. $KTB

Key Points

• Maverick Capital Ltd. significantly increased its stake in Kontoor Brands, Inc. by 876.5%, owning 29,001 shares worth approximately $1.86 million after acquiring an additional 26,031 shares.
• Kontoor Brands reported an earnings per share (EPS) of $1.21 for the last quarter, surpassing analyst expectations by $0.35, and also noted a year-over-year revenue increase of 8.5%.
• The company declared a quarterly dividend of $0.52 per share, representing an annual yield of 2.7%, with the payout scheduled for September 19th.

Maverick Capital Ltd. boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 876.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,001 shares of the company's stock after buying an additional 26,031 shares during the quarter. Maverick Capital Ltd. owned approximately 0.05% of Kontoor Brands worth $1,860,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KTB. AlphaQuest LLC increased its position in Kontoor Brands by 2.2% during the 1st quarter. AlphaQuest LLC now owns 6,673 shares of the company's stock valued at $428,000 after purchasing an additional 143 shares during the period. Beacon Pointe Advisors LLC increased its position in Kontoor Brands by 3.4% during the 4th quarter. Beacon Pointe Advisors LLC now owns 6,206 shares of the company's stock valued at $530,000 after purchasing an additional 202 shares during the period. TD Private Client Wealth LLC increased its position in Kontoor Brands by 12.7% during the 1st quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock valued at $115,000 after purchasing an additional 203 shares during the period. Xponance Inc. increased its position in Kontoor Brands by 5.1% during the 1st quarter. Xponance Inc. now owns 4,230 shares of the company's stock valued at $271,000 after purchasing an additional 205 shares during the period. Finally, Versant Capital Management Inc increased its position in 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. Institutional investors own 93.06% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on KTB shares. UBS Group increased their target price on shares of Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a research report on Friday, August 8th. Barclays reissued an "overweight" rating and set a $91.00 target price (up previously from $86.00) on shares of Kontoor Brands in a research report on Friday, August 8th. Stifel Nicolaus raised their price objective on shares of Kontoor Brands from $72.00 to $73.00 and gave the stock a "hold" rating in a research report on Friday, August 8th. 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 report on Tuesday, June 10th. Finally, Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Five analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $89.67.

Kontoor Brands Stock Down 0.4%

NYSE:KTB traded down $0.30 during trading hours on Friday, hitting $80.11. 516,828 shares of the company traded hands, compared to its average volume of 704,729. The company has a quick ratio of 0.95, a current ratio of 2.18 and a debt-to-equity ratio of 2.74. The firm's 50-day simple moving average is $68.66 and its 200-day simple moving average is $66.33. Kontoor Brands, Inc. has a one year low of $50.00 and a one year high of $96.80. The company has a market cap of $4.45 billion, a PE ratio of 17.88, a PEG ratio of 1.84 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 the consensus estimate of $0.86 by $0.35. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%.The business had revenue of $658.26 million for the quarter, compared to analysts' expectations of $632.97 million. During the same period last year, the business earned $0.98 EPS. The business's revenue was up 8.5% on a year-over-year basis. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. Equities analysts predict 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 paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands's payout ratio is presently 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.