Citigroup Inc. Purchases 132,325 Shares of Kontoor Brands, Inc. $KTB

Key Points

• Citigroup Inc. significantly increased its stake in Kontoor Brands by 170.2%, acquiring an additional 132,325 shares in the first quarter, bringing its total ownership to 210,075 shares valued at approximately $13.47 million.
• Kontoor Brands has announced a quarterly dividend of $0.52 per share, representing an annualized yield of 2.9% and a payout ratio of 46.43%.
• Analyst ratings for Kontoor Brands are generally positive, with an average target price of $89.67, including multiple upgrades from various equity research firms.

Citigroup Inc. increased its stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 170.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,075 shares of the company's stock after purchasing an additional 132,325 shares during the quarter. Citigroup Inc. owned approximately 0.38% of Kontoor Brands worth $13,472,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Ameriprise Financial Inc. raised its holdings in shares of Kontoor Brands by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock worth $115,755,000 after purchasing an additional 142,956 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Kontoor Brands by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock worth $108,252,000 after purchasing an additional 5,207 shares during the period. Northern Trust Corp raised its holdings in shares of Kontoor Brands by 9.8% in the 4th quarter. Northern Trust Corp now owns 1,123,677 shares of the company's stock worth $95,973,000 after purchasing an additional 100,397 shares during the period. First Trust Advisors LP raised its holdings in shares of Kontoor Brands by 15.5% in the 4th quarter. First Trust Advisors LP now owns 1,043,684 shares of the company's stock worth $89,141,000 after purchasing an additional 140,068 shares during the period. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in shares of Kontoor Brands by 4.1% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 1,037,453 shares of the company's stock worth $88,609,000 after purchasing an additional 40,736 shares during the period. Institutional investors own 93.06% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KTB. UBS Group lifted their price target on shares of Kontoor Brands from $92.00 to $99.00 and gave the stock a "buy" rating in a report on Friday, August 8th. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Wall Street Zen raised shares of Kontoor Brands from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 9th. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Finally, Stifel Nicolaus boosted their target price on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a "hold" rating in a report on Friday, August 8th. Five research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $89.67.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock traded up $0.9650 during trading on Tuesday, hitting $72.5450. The stock had a trading volume of 224,268 shares, compared to its average volume of 738,698. The firm has a market cap of $4.03 billion, a price-to-earnings ratio of 16.19, a P/E/G ratio of 1.62 and a beta of 1.11. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The business's 50-day moving average is $65.26 and its 200 day moving average is $66.88. The company has a current ratio of 2.18, a quick ratio of 0.95 and a debt-to-equity ratio of 2.74.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.35. The firm had revenue of $658.26 million for the quarter, compared to analysts' expectations of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The business's quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.98 earnings per share. Kontoor Brands has set its FY 2025 guidance at 5.450-5.450 EPS. Q3 2025 guidance at 1.350-1.350 EPS. As a group, sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Tuesday, September 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands's dividend payout ratio is currently 46.43%.

Kontoor Brands Company Profile

Kontoor Brands, Inc, a lifestyle apparel company, designs, produces, procures, markets, distributes, and licenses denim, apparel, footwear, and accessories, primarily under the Wrangler and Lee brands. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.