First Trust Advisors LP Sells 207,083 Shares of Kontoor Brands, Inc. $KTB

First Trust Advisors LP trimmed its position in Kontoor Brands, Inc. (NYSE:KTB) by 21.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 762,919 shares of the company’s stock after selling 207,083 shares during the period. First Trust Advisors LP owned 1.37% of Kontoor Brands worth $60,858,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in KTB. Royal Bank of Canada increased its holdings in shares of Kontoor Brands by 29.1% in 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 boosted its stake in Kontoor Brands by 49.3% during the first 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 during the period. Integrated Wealth Concepts LLC boosted its stake in Kontoor Brands by 250.8% during the first 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 during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Kontoor Brands by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock valued at $2,102,000 after buying an additional 1,432 shares during the period. Finally, Millennium Management LLC boosted its stake in Kontoor Brands by 222.5% during the first quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock valued at $10,026,000 after buying an additional 107,855 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Down 6.7%

KTB opened at $68.08 on Wednesday. The business’s fifty day simple moving average is $64.42 and its 200 day simple moving average is $71.80. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $87.00. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 2.01. The stock has a market cap of $3.76 billion, a PE ratio of 16.81 and a beta of 1.15.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.08. Kontoor Brands had a return on equity of 62.02% and a net margin of 7.22%.The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $975.78 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s revenue was up 45.6% compared to the same quarter last year. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. As a group, research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a $0.53 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.12 dividend on an annualized basis and a yield of 3.1%. Kontoor Brands’s payout ratio is presently 52.35%.

Wall Street Analyst Weigh In

Several research firms recently commented on KTB. BTIG Research boosted their target price on Kontoor Brands from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. BNP Paribas Exane set a $50.00 price target on Kontoor Brands in a research report on Tuesday, December 9th. Barclays boosted their price objective on Kontoor Brands from $74.00 to $93.00 and gave the stock an “overweight” rating in a report on Wednesday, March 4th. The Goldman Sachs Group upped their price objective on shares of Kontoor Brands from $84.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company raised their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

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.