Bayforest Capital Ltd Reduces Holdings in Kontoor Brands, Inc. $KTB

Bayforest Capital Ltd lowered its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 87.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,169 shares of the company’s stock after selling 15,736 shares during the period. Bayforest Capital Ltd’s holdings in Kontoor Brands were worth $173,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. raised its holdings in shares of Kontoor Brands by 22.0% in the second quarter. Russell Investments Group Ltd. now owns 78,834 shares of the company’s stock valued at $5,201,000 after buying an additional 14,191 shares during the last quarter. Financial Advisory Partners LLC purchased a new position in shares of Kontoor Brands during the second quarter worth about $581,000. Jennison Associates LLC grew its holdings in shares of Kontoor Brands by 3.1% during the second quarter. Jennison Associates LLC now owns 903,488 shares of the company’s stock worth $59,603,000 after buying an additional 26,822 shares during the last quarter. Maverick Capital Ltd. increased its position in Kontoor Brands by 82.6% in the 2nd quarter. Maverick Capital Ltd. now owns 52,947 shares of the company’s stock valued at $3,493,000 after acquiring an additional 23,946 shares during the period. Finally, Gabelli Funds LLC purchased a new stake in Kontoor Brands during the 2nd quarter valued at approximately $4,922,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Trading Up 0.5%

Shares of KTB stock opened at $59.45 on Wednesday. The business’s fifty day moving average price is $67.85 and its 200 day moving average price is $72.07. The firm has a market capitalization of $3.30 billion, a PE ratio of 15.32 and a beta of 1.21. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.91 and a quick ratio of 0.82. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Monday, November 3rd. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.35 by $0.09. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. The company had revenue of $853.22 million for the quarter, compared to analyst estimates of $879.10 million. During the same period in the previous year, the firm earned $1.37 EPS. The business’s revenue was up 27.3% on a year-over-year basis. 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 forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Investors of record on Monday, December 8th were issued a dividend of $0.53 per share. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 3.6%. The ex-dividend date of this dividend was Monday, December 8th. Kontoor Brands’s payout ratio is presently 54.64%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Barclays set a $74.00 price objective on Kontoor Brands in a research report on Tuesday, January 6th. Baird R W raised Kontoor Brands to a “strong-buy” rating in a report on Friday, October 17th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Stifel Nicolaus raised their target price on shares of Kontoor Brands from $73.00 to $75.00 and gave the stock a “hold” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $87.75.

Kontoor Brands Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.