AMG National Trust Bank Purchases Shares of 106,513 Kontoor Brands, Inc. $KTB

Key Points

• AMG National Trust Bank acquired 106,513 Kontoor Brands shares worth approximately $8.88 million, representing about 0.19% of the company. Institutional investors and hedge funds collectively own 93.06% of KTB.
• Analyst sentiment remains positive overall, with KTB carrying a “Moderate Buy” consensus rating and a $95 average price target. Shares recently opened at $84.87, near the company’s 52-week high of $88.96.
• Kontoor Brands reported quarterly EPS of $1.06, slightly above estimates, though revenue fell 11.2% year over year to $584.29 million. The company also declared a quarterly dividend of $0.53 per share, equivalent to a 2.5% annualized yield.

AMG National Trust Bank acquired a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 106,513 shares of the company's stock, valued at approximately $8,877,000. AMG National Trust Bank owned about 0.19% of Kontoor Brands at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its holdings in Kontoor Brands by 15.8% in the 4th quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company's stock worth $184,443,000 after acquiring an additional 413,005 shares in the last quarter. Geode Capital Management LLC lifted its stake in Kontoor Brands by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 1,419,700 shares of the company's stock valued at $86,741,000 after buying an additional 13,725 shares in the last quarter. Morgan Stanley lifted its stake in Kontoor Brands by 8.8% in the 4th quarter. Morgan Stanley now owns 1,283,592 shares of the company's stock valued at $78,415,000 after buying an additional 104,296 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Kontoor Brands by 0.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,268,336 shares of the company's stock worth $89,132,000 after buying an additional 6,477 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in Kontoor Brands by 0.9% during the 1st quarter. Jennison Associates LLC now owns 1,225,371 shares of the company's stock worth $86,131,000 after buying an additional 10,540 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

KTB has been the topic of a number of recent research reports. Weiss Ratings lowered shares of Kontoor Brands from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 5th. BTIG Research increased their price target on Kontoor Brands from $100.00 to $105.00 and gave the company a "buy" rating in a report on Friday. Zacks Research raised Kontoor Brands from a "strong sell" rating to a "hold" rating in a report on Thursday, July 9th. JPMorgan Chase & Co. lifted their price objective on Kontoor Brands from $90.00 to $105.00 and gave the stock an "overweight" rating in a research report on Tuesday, August 4th. Finally, Wall Street Zen lowered Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. 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 assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Kontoor Brands Price Performance

KTB stock opened at $84.87 on Monday. The business has a fifty day moving average of $82.08 and a two-hundred day moving average of $73.77. The company has a quick ratio of 0.99, a current ratio of 1.83 and a debt-to-equity ratio of 1.82. The stock has a market cap of $4.64 billion, a price-to-earnings ratio of 17.72 and a beta of 0.88. Kontoor Brands, Inc. has a 52-week low of $56.19 and a 52-week high of $88.96.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Wednesday, August 12th. The company reported $1.06 EPS for the quarter, beating analysts' consensus estimates of $1.05 by $0.01. Kontoor Brands had a return on equity of 59.71% and a net margin of 8.21%.The company had revenue of $584.29 million for the quarter, compared to the consensus estimate of $586.95 million. During the same quarter in the previous year, the business earned $1.33 earnings per share. The company's revenue for the quarter was down 11.2% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 5.250-5.350 EPS. As a group, research analysts anticipate that Kontoor Brands, Inc. will post 5.27 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Tuesday, September 8th will be paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Tuesday, September 8th. Kontoor Brands's dividend payout ratio is 44.26%.

Insiders Place Their Bets

In related news, EVP Thomas L. Doerr, Jr. sold 7,660 shares of Kontoor Brands stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $83.43, for a total value of $639,073.80. Following the completion of the transaction, the executive vice president owned 25,063 shares in the company, valued at approximately $2,091,006.09. The trade was a 23.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Jennifer H. Broyles sold 4,000 shares of the business'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 directly owned 40,261 shares of the company's stock, valued at $3,261,946.22. The trade was a 9.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by corporate insiders.

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.

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