First Trust Advisors LP Sells 246,142 Shares of Kontoor Brands, Inc. $KTB

First Trust Advisors LP decreased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 42.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 340,050 shares of the company's stock after selling 246,142 shares during the quarter. First Trust Advisors LP owned approximately 0.62% of Kontoor Brands worth $23,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds 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 fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company's stock worth $25,000 after purchasing an additional 312 shares during the last quarter. Torren Management LLC bought a new stake in Kontoor Brands in the 4th quarter worth about $27,000. Private Trust Co. NA purchased a new stake in Kontoor Brands in the 4th quarter valued at about $31,000. Hantz Financial Services Inc. lifted its position in shares of Kontoor Brands by 196.2% during the 4th quarter. Hantz Financial Services Inc. now owns 551 shares of the company's stock worth $34,000 after buying an additional 365 shares in the last quarter. Finally, Atlantic Edge Private Wealth Management LLC bought a new position in shares of Kontoor Brands during the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Barclays upped their target price on Kontoor Brands from $93.00 to $96.00 and gave the company an "overweight" rating in a report on Monday, May 11th. Zacks Research raised Kontoor Brands from a "strong sell" rating to a "hold" rating in a research report on Thursday, July 9th. JPMorgan Chase & Co. initiated coverage on Kontoor Brands in a research note on Monday, June 8th. They issued an "overweight" rating and a $90.00 price objective for the company. Wall Street Zen cut Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Finally, BTIG Research reissued a "buy" rating and issued a $100.00 price target on shares of Kontoor Brands in a report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $91.20.

Insider Buying and Selling

In other Kontoor Brands news, EVP Jennifer H. Broyles sold 4,000 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $81.02, for a total value of $324,080.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.80% of the stock is currently owned by corporate insiders.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $88.13 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.10 and a debt-to-equity ratio of 1.83. The stock has a fifty day simple moving average of $79.07 and a two-hundred day simple moving average of $71.72. Kontoor Brands, Inc. has a 1-year low of $53.55 and a 1-year high of $88.96. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 17.84 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). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The business had revenue of $613.32 million for the quarter, compared to the consensus estimate of $784.76 million. During the same quarter in the prior year, the business earned $1.20 EPS. Kontoor Brands's revenue for the quarter 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. Analysts anticipate that Kontoor Brands, Inc. will post 5.2 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Tuesday, September 8th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a yield of 2.4%. Kontoor Brands's dividend payout ratio is 42.91%.

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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