Kontoor Brands, Inc. $KTB Stock Position Decreased by Citigroup Inc.

Citigroup Inc. trimmed its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 74.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,143 shares of the company’s stock after selling 74,676 shares during the quarter. Citigroup Inc.’s holdings in Kontoor Brands were worth $2,085,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. JPMorgan Chase & Co. raised its position in Kontoor Brands by 69.3% during the second quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company’s stock valued at $168,428,000 after acquiring an additional 1,044,921 shares in the last quarter. Norges Bank bought a new stake in Kontoor Brands in the second quarter worth approximately $45,762,000. Invesco Ltd. increased its stake in shares of Kontoor Brands by 54.2% during the 2nd quarter. Invesco Ltd. now owns 1,241,839 shares of the company’s stock worth $81,924,000 after purchasing an additional 436,246 shares during the last quarter. Balyasny Asset Management L.P. increased its stake in shares of Kontoor Brands by 134.3% during the 2nd quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock worth $30,916,000 after purchasing an additional 268,604 shares during the last quarter. Finally, Man Group plc raised its holdings in shares of Kontoor Brands by 23.7% during the 2nd quarter. Man Group plc now owns 765,512 shares of the company’s stock valued at $50,501,000 after purchasing an additional 146,858 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Barclays lifted their price objective on shares of Kontoor Brands from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. Stifel Nicolaus raised their target price on Kontoor Brands from $75.00 to $80.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday, December 29th. UBS Group upped 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. Finally, The Goldman Sachs Group increased their price objective on Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and an average target price of $91.00.

Kontoor Brands Price Performance

NYSE KTB opened at $76.57 on Monday. Kontoor Brands, Inc. has a 1 year low of $50.00 and a 1 year high of $87.00. The company has a fifty day simple moving average of $64.07 and a 200 day simple moving average of $71.86. 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 company has a market cap of $4.23 billion, a P/E ratio of 18.91 and a beta of 1.15.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, March 3rd. The company reported $1.73 EPS for the quarter, topping the consensus estimate of $1.65 by $0.08. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $975.78 million. Kontoor Brands had a net margin of 7.22% and a return on equity of 62.02%. The business’s quarterly revenue was up 45.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.38 EPS. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.8%. Kontoor Brands’s payout ratio is presently 52.35%.

About Kontoor Brands

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.