AMG National Trust Bank Cuts Stock Position in Kontoor Brands, Inc. $KTB

AMG National Trust Bank lessened its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 18.9% during the 1st quarter, Holdings Channel reports. The firm owned 131,886 shares of the company’s stock after selling 30,771 shares during the period. AMG National Trust Bank’s holdings in Kontoor Brands were worth $9,270,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Zacks Research upgraded Kontoor Brands from a “strong sell” rating to a “hold” rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. assumed coverage on shares of Kontoor Brands in a research report on Monday, June 8th. They set an “overweight” rating and a $90.00 price objective for the company. BTIG Research reissued a “buy” rating and issued a $100.00 price objective on shares of Kontoor Brands in a research note on Friday, May 1st. Weiss Ratings downgraded shares of Kontoor Brands from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, June 15th. Finally, Barclays upped their target price on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an “overweight” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus price target of $91.20.

Insider Transactions at Kontoor Brands

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $81.02, for a total value of $324,080.00. Following the transaction, the executive vice president owned 40,261 shares of the company’s stock, valued at $3,261,946.22. This represents a 9.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.80% of the stock is currently owned by insiders.

Kontoor Brands Trading Down 0.9%

KTB stock opened at $84.92 on Tuesday. Kontoor Brands, Inc. has a twelve month low of $53.55 and a twelve month high of $88.85. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 17.19 and a beta of 0.87. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. The firm’s fifty day simple moving average is $75.37 and its two-hundred day simple moving average is $69.89.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.11). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The firm had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. During the same quarter last year, the business posted $1.20 EPS. Kontoor Brands’s revenue was up 45.0% compared to the same quarter last year. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, analysts anticipate that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Investors of record on Monday, June 8th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Monday, June 8th. Kontoor Brands’s dividend payout ratio (DPR) is currently 42.91%.

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.