Nordea Investment Management AB Takes $7.36 Million Position in Kontoor Brands, Inc. $KTB

Nordea Investment Management AB purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 93,097 shares of the company’s stock, valued at approximately $7,357,000. Nordea Investment Management AB owned approximately 0.17% of Kontoor Brands as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Ratings Changes

Several research analysts have weighed in on KTB shares. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Robert W. Baird began coverage on Kontoor Brands in a research note on Friday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Barclays set a $74.00 price objective on shares of Kontoor Brands in a research report on Tuesday, January 6th. UBS Group lifted their target price on shares of Kontoor Brands from $114.00 to $118.00 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Finally, Stifel Nicolaus increased their price target 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 research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $87.75.

Kontoor Brands Trading Down 0.3%

NYSE:KTB opened at $59.41 on Friday. The company’s 50 day moving average is $66.97 and its 200-day moving average is $71.85. The company has a quick ratio of 0.82, a current ratio of 1.91 and a debt-to-equity ratio of 2.53. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The firm has a market cap of $3.30 billion, a price-to-earnings ratio of 15.31 and a beta of 1.21.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Monday, November 3rd. The company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. The business had revenue of $853.22 million for the quarter, compared to analyst estimates of $879.10 million. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. Kontoor Brands’s revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business posted $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. Equities analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were given a $0.53 dividend. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Monday, December 8th. Kontoor Brands’s dividend payout ratio (DPR) is 54.64%.

Kontoor Brands Company 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.