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

First Trust Advisors LP decreased its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 21.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 762,919 shares of the company’s stock after selling 207,083 shares during the period. First Trust Advisors LP’s holdings in Kontoor Brands were worth $60,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its stake in Kontoor Brands by 73.0% in the third quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Kontoor Brands during the second quarter valued at about $26,000. Clearstead Advisors LLC grew its stake in shares of Kontoor Brands by 2,538.5% during the third quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after buying an additional 330 shares during the last quarter. Salomon & Ludwin LLC increased its holdings in shares of Kontoor Brands by 2,614.3% in the third quarter. Salomon & Ludwin LLC now owns 380 shares of the company’s stock worth $31,000 after buying an additional 366 shares during the period. Finally, First Horizon Corp purchased a new position in shares of Kontoor Brands in the third quarter worth about $31,000. Institutional investors own 93.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on KTB. Jefferies Financial Group assumed coverage on Kontoor Brands in a report on Wednesday, February 4th. They set a “hold” rating and a $65.00 target price for the company. UBS Group lifted their price target on Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Wells Fargo & Company increased their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. BNP Paribas Exane set a $50.00 target price on shares of Kontoor Brands in a report on Tuesday, December 9th. Finally, The Goldman Sachs Group lifted their target price on shares of Kontoor Brands from $84.00 to $95.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $91.00.

Kontoor Brands Stock Performance

Kontoor Brands stock opened at $68.08 on Wednesday. The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 2.01. The firm has a market cap of $3.76 billion, a P/E ratio of 16.81 and a beta of 1.15. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $87.00. The firm has a 50-day moving average of $64.42 and a 200-day moving average of $71.80.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.08. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $975.78 million. Kontoor Brands had a return on equity of 62.02% and a net margin of 7.22%.During the same quarter in the previous year, the business earned $1.38 EPS. Kontoor Brands’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. Sell-side analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be paid a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.12 annualized dividend and a dividend yield of 3.1%. Kontoor Brands’s payout ratio is 52.35%.

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.