Nisa Investment Advisors LLC Lowers Stake in Kontoor Brands, Inc. $KTB

Nisa Investment Advisors LLC cut its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 25.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 34,205 shares of the company’s stock after selling 11,797 shares during the period. Nisa Investment Advisors LLC owned approximately 0.06% of Kontoor Brands worth $2,729,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of KTB. Royal Bank of Canada lifted its holdings in shares of Kontoor Brands by 29.1% during the first quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock worth $6,793,000 after purchasing an additional 23,880 shares during the period. AQR Capital Management LLC increased its stake in shares of Kontoor Brands by 49.3% during the first quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock worth $939,000 after acquiring an additional 4,836 shares during the period. Integrated Wealth Concepts LLC lifted its position in Kontoor Brands by 250.8% in the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock valued at $602,000 after purchasing an additional 6,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Kontoor Brands by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock valued at $2,102,000 after purchasing an additional 1,432 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in Kontoor Brands by 222.5% in the 1st quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock valued at $10,026,000 after purchasing an additional 107,855 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on KTB shares. Weiss Ratings reissued a “hold (c)” rating on shares of Kontoor Brands in a report on Monday, December 29th. Wall Street Zen downgraded 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 objective on shares of Kontoor Brands in a research note on Tuesday, December 9th. Stifel Nicolaus lifted their price objective on Kontoor Brands from $73.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Finally, Barclays set a $74.00 target price on Kontoor Brands in a research note on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $87.75.

Kontoor Brands Stock Down 4.5%

Shares of NYSE:KTB opened at $59.06 on Tuesday. The company has a current ratio of 1.91, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The firm has a market cap of $3.28 billion, a price-to-earnings ratio of 15.22 and a beta of 1.21. The stock’s 50-day moving average price is $68.14 and its two-hundred day moving average price is $72.12. Kontoor Brands, Inc. has a 12-month low of $50.00 and a 12-month high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Monday, November 3rd. The company reported $1.44 earnings per share 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 the consensus estimate 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% on a year-over-year basis. During the same quarter last year, the firm posted $1.37 earnings per share. 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. On average, research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

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

About Kontoor Brands

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.