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

Key Points

• AMG National Trust Bank cut its Kontoor Brands stake by 18.9% in Q1, selling 30,771 shares and ending with 131,886 shares valued at about $9.27 million.
• Kontoor Brands reported mixed quarterly results: EPS of $1.06 missed estimates, while revenue of $613.3 million also came in below expectations, though revenue was up 45% year over year.
• The company recently paid a quarterly dividend of $0.53 per share, and analysts currently rate the stock a “Moderate Buy” with a consensus price target of $91.20.

AMG National Trust Bank reduced its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 18.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 131,886 shares of the company's stock after selling 30,771 shares during the period. AMG National Trust Bank owned about 0.24% of Kontoor Brands worth $9,270,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Transamerica Financial Advisors LLC boosted its holdings in Kontoor Brands by 335.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company's stock valued at $25,000 after acquiring an additional 312 shares during the period. Torren Management LLC purchased a new position in shares of Kontoor Brands in the fourth quarter worth $27,000. Private Trust Co. NA purchased a new position in shares of Kontoor Brands in the fourth quarter worth $31,000. Hantz Financial Services Inc. boosted its position in Kontoor Brands by 196.2% during the 4th quarter. Hantz Financial Services Inc. now owns 551 shares of the company's stock valued at $34,000 after buying an additional 365 shares during the period. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in shares of Kontoor Brands during the fourth quarter valued at about $35,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Trading Down 0.9%

Shares of NYSE KTB opened at $84.92 on Tuesday. The firm's 50 day moving average price is $75.37 and its 200-day moving average price is $69.89. Kontoor Brands, Inc. has a 52-week low of $53.55 and a 52-week high of $88.85. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87. The company has a market cap of $4.69 billion, a PE ratio of 17.19 and a beta of 0.87.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $1.06 earnings per share for the quarter, missing analysts' consensus estimates of $1.17 by ($0.11). The business had revenue of $613.32 million during the quarter, compared to analysts' expectations of $784.76 million. Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.Kontoor Brands's quarterly revenue was up 45.0% compared to the same quarter last year. During the same period last year, the firm posted $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. On average, equities research analysts expect that Kontoor Brands, Inc. will post 5.2 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, June 18th. Shareholders 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 was Monday, June 8th. Kontoor Brands's payout ratio is currently 42.91%.

Analyst Upgrades and Downgrades

KTB has been the topic of several research analyst reports. Wall Street Zen cut Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. BTIG Research reiterated a "buy" rating and issued a $100.00 price target on shares of Kontoor Brands in a report on Friday, May 1st. Weiss Ratings downgraded shares of Kontoor Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, June 15th. JPMorgan Chase & Co. started coverage on shares of Kontoor Brands in a report on Monday, June 8th. They issued an "overweight" rating and a $90.00 price objective for the company. Finally, Barclays upped their price objective on shares of Kontoor Brands from $93.00 to $96.00 and gave the stock an "overweight" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $91.20.

Insider Activity at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction on Friday, June 12th. The shares were sold at an average price of $81.02, for a total transaction of $324,080.00. Following the transaction, the executive vice president owned 40,261 shares in the company, valued at $3,261,946.22. This trade 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 owned by insiders.

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.

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