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

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

A number of other equities analysts also recently weighed in on KTB. UBS Group upped their price target 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 lifted their target price on Kontoor Brands from $56.00 to $64.00 and gave the stock a buy rating in a research note on Thursday, February 29th. Finally, Edward Jones cut Kontoor Brands from a buy rating to a hold rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $75.20.

Kontoor Brands Price Performance

Shares of KTB traded up $0.40 on Friday, hitting $66.05. The company’s stock had a trading volume of 559,634 shares, compared to its average volume of 580,546. The company has a 50 day moving average price of $59.10 and a 200 day moving average price of $57.34. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42. The company has a market capitalization of $3.69 billion, a PE ratio of 16.62, a PEG ratio of 1.74 and a beta of 1.11. Kontoor Brands has a fifty-two week low of $37.10 and a fifty-two week high of $69.69.

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, beating analysts’ consensus estimates of $0.90 by $0.26. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The company had revenue of $631.20 million for the quarter, compared to the consensus estimate of $607.91 million. During the same quarter in the prior year, the business posted $1.16 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts anticipate that Kontoor Brands will post 4.7 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.03%. Kontoor Brands’s dividend payout ratio is presently 50.63%.

Institutional Trading of Kontoor Brands

Several hedge funds have recently added to or reduced their stakes in KTB. Victory Capital Management Inc. raised its stake in shares of Kontoor Brands by 402.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock valued at $43,965,000 after purchasing an additional 802,166 shares during the period. Norges Bank bought a new stake in Kontoor Brands during the fourth quarter worth about $23,695,000. 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 worth $169,796,000 after buying an additional 117,815 shares in the last quarter. AMG National Trust Bank boosted its stake in shares of Kontoor Brands by 18.5% in the 4th quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock valued at $26,335,000 after purchasing an additional 65,990 shares in the last quarter. Finally, Invesco Ltd. grew its stake in shares of Kontoor Brands by 28.2% during the third quarter. Invesco Ltd. now owns 289,501 shares of the company’s stock valued at $12,712,000 after buying an additional 63,616 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

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.