SCHEDULE 13G/A: PNC Financial Services Group Discloses 6.4% Stake in Kontoor Brands

The PNC Financial Services Group, Inc. has filed an amended Schedule 13G, reporting a beneficial ownership of 6.4% of Kontoor Brands, Inc.'s common stock as of March 31, 2025.

Summary

• The PNC Financial Services Group, Inc. (PNC) has filed Amendment No. 8 to Schedule 13G, disclosing its beneficial ownership in Kontoor Brands, Inc.
• As of March 31, 2025, PNC beneficially owns an aggregate of 3,513,967 shares of Kontoor Brands, Inc. common stock.
• This ownership represents 6.4% of the total outstanding common stock of Kontoor Brands, Inc.
• PNC holds sole voting power over 6,590 shares and shared voting power over 3,506,834 shares.
• PNC holds sole dispositive power over 6,379 shares and shared dispositive power over 3,507,506 shares.
• A significant portion of the shares, specifically 3,506,834 shares (6.34% of the class), are held in Barbey Family Trust accounts where PNC Bank, National Association serves as co-trustee, sharing both voting and dispositive power.
• Additional shares are held in a fiduciary capacity for clients at PNC Bank, National Association (6,085 shares) and PNC Delaware Trust Company (376 shares).
• PNC certifies 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.

Sentiment

Score: 6

Explanation: The filing indicates a substantial beneficial ownership stake by a major financial institution, The PNC Financial Services Group, Inc., in Kontoor Brands, Inc. While a routine disclosure, significant institutional investment can be viewed positively by the market as a vote of confidence, especially since it's stated not to be for control purposes.

Positives

• The disclosure of a significant beneficial ownership stake by a major financial institution like The PNC Financial Services Group, Inc. can signal institutional confidence in Kontoor Brands, Inc.
• The filing explicitly states that the securities are held in the ordinary course of business and not for the purpose of changing or influencing control, suggesting a stable, long-term investment perspective.

Future Outlook

NA

Management Comments

• "The securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11."

Industry Context

NA

Stakeholder Impact

• Shareholders: The disclosure of a significant institutional stake by PNC Financial Services Group could be viewed positively, potentially increasing investor confidence and liquidity in Kontoor Brands, Inc. stock.

Key Dates

Keywords

Kontoor Brands, PNC Financial Services Group, Schedule 13G, beneficial ownership, common stock, institutional ownership, equity stake, SEC filing, financial services