Citigroup Inc. Has $5.79 Million Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Citigroup Inc. boosted its stake in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 76.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,738 shares of the company's stock after purchasing an additional 30,650 shares during the quarter. Citigroup Inc. owned 0.13% of Kontoor Brands worth $5,785,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwest Investment Counselors LLC acquired a new position in shares of Kontoor Brands in the third quarter valued at $30,000. Farther Finance Advisors LLC raised its stake in shares of Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after buying an additional 274 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Kontoor Brands during the 3rd quarter worth about $32,000. Quest Partners LLC acquired a new stake in shares of Kontoor Brands during the 2nd quarter valued at about $27,000. Finally, Sound Income Strategies LLC acquired a new position in Kontoor Brands in the third quarter worth about $48,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. The trade was a 33.21 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total value of $9,961,776.00. Following the transaction, the chief executive officer now owns 331,916 shares of the company's stock, valued at approximately $27,748,177.60. The trade was a 26.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on KTB shares. Barclays lifted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, November 1st. Wells Fargo & Company upped their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. UBS Group lifted their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a "buy" rating in a report on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a "buy" rating to a "hold" rating and upped their target price for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Guggenheim boosted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $95.00.

Kontoor Brands Trading Up 2.6 %

Shares of KTB stock traded up $2.37 on Monday, reaching $94.15. 392,542 shares of the stock were exchanged, compared to its average volume of 479,632. The stock has a market cap of $5.19 billion, a PE ratio of 21.20, a P/E/G ratio of 2.38 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands, Inc. has a one year low of $52.95 and a one year high of $94.82. The stock has a 50 day moving average price of $84.29 and a 200 day moving average price of $75.37.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same period in the previous year, the company posted $1.22 earnings per share. The company's revenue for the quarter was up 2.4% on a year-over-year basis. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.21%. This is a boost from Kontoor Brands's previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands's dividend payout ratio is presently 45.05%.

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.