SCHEDULE 13G/A: FMR LLC and Abigail P. Johnson Disclose 4.9% Stake in Kontoor Brands Inc.

FMR LLC and Abigail P. Johnson have filed an amended Schedule 13G, reporting a combined beneficial ownership of 4.9% of Kontoor Brands Inc.'s common stock as of December 31, 2024.

Summary

• FMR LLC and Abigail P. Johnson jointly reported beneficial ownership of 2,713,027.66 shares of Kontoor Brands Inc. common stock.
• This ownership represents 4.9% of the total outstanding common stock of Kontoor Brands Inc.
• The filing is an Amendment No. 2 to a Schedule 13G, indicating an update to a previously reported ownership position.
• FMR LLC holds sole voting power over 2,707,013.00 shares and sole dispositive power over 2,713,027.66 shares.
• Abigail P. Johnson, identified as a Director, Chairman, and Chief Executive Officer of FMR LLC, and a predominant owner of FMR LLC's voting shares, is also reported as beneficially owning the same aggregate amount of shares.
• The reporting persons certified that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.

Sentiment

Score: 7

Explanation: The filing is a routine regulatory disclosure of beneficial ownership, indicating continued, passive institutional investment in Kontoor Brands Inc. by FMR LLC and Abigail P. Johnson. It contains no negative information about the issuer.

Positives

• A major institutional investor, FMR LLC, and its principal, Abigail P. Johnson, maintain a significant beneficial ownership stake of 4.9% in Kontoor Brands Inc., indicating continued investment interest.
• The filing confirms that the shares are held in the ordinary course of business and not for the purpose of influencing control, suggesting a passive investment approach.

Risks

• The filing does not disclose any specific risks related to Kontoor Brands Inc.'s operations or financial health.
• The beneficial ownership is below the 5% threshold that would trigger a Schedule 13D filing, which typically indicates an intent to influence or control the issuer, thus not signaling any immediate activist pressure.

Future Outlook

NA

Management Comments

• FMR LLC and Abigail P. Johnson certify that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing the control of Kontoor Brands Inc.

Industry Context

This Schedule 13G filing is a standard regulatory disclosure for institutional investors reporting beneficial ownership below the 5% threshold, common across all industries for publicly traded companies. It reflects a routine update to an existing investment position.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, which can influence market perception and liquidity.
• Regulatory Authorities: Fulfills SEC disclosure requirements for beneficial ownership, ensuring market transparency and compliance.

Next Steps

• FMR LLC and Abigail P. Johnson will continue to file amendments to Schedule 13G if their beneficial ownership percentage changes significantly (e.g., by more than 1% of the class) or if their investment intent changes.

Key Dates

Keywords

Kontoor Brands Inc., FMR LLC, Abigail P. Johnson, Schedule 13G, beneficial ownership, common stock, institutional investor, SEC filing, equity stake