Kontoor Brands (NYSE:KTB) Price Target Increased to $76.00 by Analysts at Barclays

Kontoor Brands (NYSE:KTB) had its target price upped by Barclays from $65.00 to $76.00 in a report issued on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently issued reports on KTB. UBS Group increased their price objective on Kontoor Brands from $83.00 to $85.00 and gave the stock a buy rating in a research report on Friday, February 16th. The Goldman Sachs Group raised their target price on Kontoor Brands from $56.00 to $64.00 and gave the company a buy rating in a report on Thursday, February 29th. Finally, Edward Jones downgraded Kontoor Brands from a buy rating to a hold rating in a research note on Friday, January 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $75.20.

Kontoor Brands Stock Performance

KTB stock traded down $1.72 during midday trading on Friday, reaching $65.65. The stock had a trading volume of 1,008,759 shares, compared to its average volume of 584,365. The firm has a fifty day simple moving average of $59.10 and a two-hundred day simple moving average of $57.18. The stock has a market cap of $3.66 billion, a PE ratio of 16.62, a P/E/G ratio of 1.79 and a beta of 1.11. Kontoor Brands has a 52-week low of $37.10 and a 52-week high of $69.69. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.38 and a current ratio of 2.70.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.26. The firm had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. Kontoor Brands’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. As a group, equities research analysts anticipate that Kontoor Brands will post 4.7 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors have recently modified their holdings of KTB. International Assets Investment Management LLC acquired a new stake in shares of Kontoor Brands during the 4th quarter worth approximately $1,364,000. Intact Investment Management Inc. bought a new stake in Kontoor Brands during the 4th quarter worth about $3,396,000. FMR LLC boosted its stake in Kontoor Brands by 3.1% in the third quarter. FMR LLC now owns 3,866,900 shares of the company’s stock valued at $169,796,000 after acquiring an additional 117,815 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Kontoor Brands by 0.3% during the third quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock worth $282,195,000 after purchasing an additional 20,964 shares during the period. Finally, Nomura Holdings Inc. grew its position in shares of Kontoor Brands by 34.3% during the 3rd quarter. Nomura Holdings Inc. now owns 47,094 shares of the company’s stock worth $2,068,000 after buying an additional 12,018 shares during the period. Institutional investors own 93.06% of the company’s stock.

About Kontoor Brands

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.