Citigroup Inc. Buys 132,325 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Citigroup Inc. raised its position in Kontoor Brands, Inc. (NYSE:KTB) by 170.2% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 210,075 shares of the company’s stock after buying an additional 132,325 shares during the period. Citigroup Inc.’s holdings in Kontoor Brands were worth $13,472,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. CX Institutional acquired a new position in shares of Kontoor Brands during the first quarter valued at $32,000. Versant Capital Management Inc raised its holdings in Kontoor Brands by 46.7% during the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $42,000 after purchasing an additional 207 shares during the last quarter. Quarry LP lifted its position in Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company’s stock valued at $62,000 after purchasing an additional 450 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Kontoor Brands in the 4th quarter valued at about $98,000. Finally, Blue Trust Inc. boosted its stake in shares of Kontoor Brands by 23.4% in the 1st quarter. Blue Trust Inc. now owns 1,446 shares of the company’s stock valued at $93,000 after purchasing an additional 274 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Trading Down 1.0%

KTB opened at $70.01 on Friday. The stock has a market capitalization of $3.89 billion, a P/E ratio of 15.63, a P/E/G ratio of 1.62 and a beta of 1.11. 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, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The firm’s fifty day simple moving average is $65.16 and its 200 day simple moving average is $67.55.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.35. The company had revenue of $658.26 million for the quarter, compared to analyst estimates of $632.97 million. Kontoor Brands had a return on equity of 68.76% and a net margin of 9.48%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.98 earnings per share. As a group, research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 9th. Kontoor Brands’s dividend payout ratio (DPR) is currently 46.43%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on KTB shares. Wall Street Zen raised shares of Kontoor Brands from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Stifel Nicolaus increased their price target on Kontoor Brands from $72.00 to $73.00 and gave the company a “hold” rating in a research note on Friday, August 8th. UBS Group raised their price target on Kontoor Brands from $92.00 to $99.00 and gave the stock a “buy” rating in a research report on Friday, August 8th. Barclays reiterated an “overweight” rating and issued a $91.00 price objective (up previously from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Finally, Wells Fargo & Company raised their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $89.67.

Kontoor Brands 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.