Kontoor Brands (NYSE:KTB) Given New $80.00 Price Target at Stifel Nicolaus

Kontoor Brands (NYSE:KTBFree Report) had its price objective hoisted by Stifel Nicolaus from $77.00 to $80.00 in a research report released on Friday morning, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities research analysts have also commented on the company. Barclays raised their price objective on Kontoor Brands from $65.00 to $76.00 and gave the stock an overweight rating in a research report on Friday, May 3rd. The Goldman Sachs Group raised their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a buy rating in a research note on Friday, May 3rd. Finally, UBS Group upped their target price on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a buy rating in a research note on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $77.20.

Read Our Latest Stock Report on Kontoor Brands

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $67.71 on Friday. The stock has a market cap of $3.78 billion, a P/E ratio of 17.14, a P/E/G ratio of 1.79 and a beta of 1.14. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. Kontoor Brands has a fifty-two week low of $37.10 and a fifty-two week high of $74.90. The firm’s 50-day simple moving average is $65.93 and its 200 day simple moving average is $61.76.

Kontoor Brands (NYSE:KTBGet Free Report) last issued its 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 during the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. Equities analysts expect that Kontoor Brands will post 4.73 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.95%. Kontoor Brands’s dividend payout ratio is presently 50.63%.

Insider Buying and Selling at Kontoor Brands

In other news, CAO Susan Denise Sumner sold 4,713 shares of the company’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the transaction, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now directly owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total value of $2,089,242.24. Following the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Kontoor Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Swiss National Bank grew its stake in Kontoor Brands by 2.0% in the third quarter. Swiss National Bank now owns 110,914 shares of the company’s stock valued at $4,870,000 after purchasing an additional 2,200 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Kontoor Brands by 4.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 591,683 shares of the company’s stock worth $25,981,000 after buying an additional 24,879 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in Kontoor Brands by 1.6% in the third quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock valued at $705,000 after purchasing an additional 250 shares in the last quarter. Deutsche Bank AG lifted its holdings in shares of Kontoor Brands by 11.5% during the 3rd quarter. Deutsche Bank AG now owns 31,313 shares of the company’s stock worth $1,375,000 after acquiring an additional 3,225 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Kontoor Brands by 0.9% during the 3rd quarter. Rhumbline Advisers now owns 161,187 shares of the company’s stock worth $7,078,000 after buying an additional 1,466 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Kontoor Brands (NYSE:KTB)

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