Nuveen LLC Makes New Investment in Kontoor Brands, Inc. $KTB

Key Points

• Nuveen LLC has acquired a new stake in Kontoor Brands, purchasing 309,324 shares valued at approximately $19.84 million, representing about 0.56% of the company.
• Kontoor Brands reported earnings of $1.21 per share, significantly surpassing analyst expectations of $0.86, alongside a revenue increase of 8.5% year-over-year.
• The company is set to pay a quarterly dividend of $0.52 per share on September 19th, offering an annualized yield of 2.9%.

Nuveen LLC purchased a new position in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 309,324 shares of the company's stock, valued at approximately $19,837,000. Nuveen LLC owned 0.56% of Kontoor Brands as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in KTB. Wells Fargo & Company MN lifted its position in Kontoor Brands by 44.1% during the 4th quarter. Wells Fargo & Company MN now owns 43,379 shares of the company's stock worth $3,705,000 after acquiring an additional 13,276 shares during the period. Renaissance Technologies LLC lifted its position in Kontoor Brands by 395.2% during the 4th quarter. Renaissance Technologies LLC now owns 30,700 shares of the company's stock worth $2,622,000 after acquiring an additional 24,500 shares during the period. Raymond James Financial Inc. acquired a new stake in Kontoor Brands during the 4th quarter worth about $6,314,000. Barclays PLC lifted its position in Kontoor Brands by 3.2% during the 4th quarter. Barclays PLC now owns 104,770 shares of the company's stock worth $8,948,000 after acquiring an additional 3,248 shares during the period. Finally, XTX Topco Ltd acquired a new stake in Kontoor Brands during the 4th quarter worth about $446,000. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock traded down $0.9830 on Monday, hitting $76.4270. The company's stock had a trading volume of 684,619 shares, compared to its average volume of 935,641. 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, Inc. has a 1 year low of $50.00 and a 1 year high of $96.80. The firm has a fifty day moving average price of $66.16 and a 200-day moving average price of $66.41. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.77 and a beta of 1.11.

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 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 firm had revenue of $658.26 million during the quarter, compared to analyst estimates of $632.97 million. During the same quarter in the previous year, the business earned $0.98 EPS. Kontoor Brands'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, sell-side analysts anticipate 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. Investors of record on Tuesday, September 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Tuesday, September 9th. Kontoor Brands's payout ratio is currently 46.43%.

Analyst Ratings Changes

Several brokerages have recently issued reports on KTB. UBS Group boosted their price objective on Kontoor Brands from $92.00 to $99.00 and gave the company a "buy" rating in a report on Friday, August 8th. Barclays reissued 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. Wells Fargo & Company boosted their price objective on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Finally, Wall Street Zen raised Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus price target of $89.67.

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.