74,609 Shares in Kontoor Brands, Inc. $KTB Acquired by Gabelli Funds LLC

Gabelli Funds LLC acquired a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 74,609 shares of the company’s stock, valued at approximately $4,922,000.

Several other hedge funds also recently bought and sold shares of the company. Atlantic Union Bankshares Corp bought a new position in shares of Kontoor Brands during the second quarter worth $26,000. Ameritas Advisory Services LLC bought a new stake in shares of Kontoor Brands in the 2nd quarter valued at $35,000. SVB Wealth LLC acquired a new stake in Kontoor Brands during the 1st quarter worth $94,000. EverSource Wealth Advisors LLC lifted its holdings in Kontoor Brands by 118.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,469 shares of the company’s stock worth $97,000 after acquiring an additional 797 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its holdings in Kontoor Brands by 240.8% during the first quarter. Advisors Asset Management Inc. now owns 1,745 shares of the company’s stock worth $112,000 after acquiring an additional 1,233 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Performance

NYSE:KTB opened at $67.32 on Wednesday. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $96.80. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 2.53. The firm has a market capitalization of $3.74 billion, a P/E ratio of 17.35 and a beta of 1.18. The company has a fifty day moving average of $77.27 and a 200-day moving average of $72.72.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Monday, November 3rd. The company reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.35 by $0.09. The company had revenue of $853.22 million for the quarter, compared to analysts’ expectations of $879.10 million. Kontoor Brands had a return on equity of 63.21% and a net margin of 7.68%.Kontoor Brands’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned $1.37 EPS. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS and its Q4 2025 guidance at 1.640-1.640 EPS. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 8th will be paid a $0.53 dividend. The ex-dividend date is Monday, December 8th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 3.1%. Kontoor Brands’s dividend payout ratio is presently 54.64%.

Analysts Set New Price Targets

A number of analysts recently issued reports on KTB shares. Wall Street Zen cut Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. BNP Paribas set a $50.00 price target on shares of Kontoor Brands in a research note on Tuesday. UBS Group boosted their target price on Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Baird R W raised shares of Kontoor Brands to a “strong-buy” rating in a report on Friday, October 17th. Finally, Barclays lifted their target price on Kontoor Brands from $91.00 to $94.00 and gave the stock an “overweight” rating in a report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $90.25.

Kontoor Brands 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.