Kontoor Brands (NYSE:KTB) Given New $103.00 Price Target at UBS Group

Kontoor Brands (NYSE:KTB) had its target price upped by UBS Group from $90.00 to $103.00 in a research report sent to investors on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also issued reports about the stock. Guggenheim upped their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus boosted their price target on Kontoor Brands from $80.00 to $89.00 and gave the company a “buy” rating in a report on Monday, October 7th. Finally, Barclays increased their price objective on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and six 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 $83.33.

Kontoor Brands Trading Up 0.8 %

NYSE KTB opened at $83.75 on Friday. Kontoor Brands has a one year low of $39.90 and a one year high of $84.21. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. The firm has a market cap of $4.68 billion, a P/E ratio of 21.20, a P/E/G ratio of 2.08 and a beta of 1.20. The stock’s 50-day moving average is $76.28 and its 200-day moving average is $69.72.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. The firm had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.77 earnings per share. Sell-side analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.39%. Kontoor Brands’s dividend payout ratio is 50.63%.

Institutional Trading of Kontoor Brands

A number of hedge funds and other institutional investors have recently modified their holdings of KTB. Quest Partners LLC bought a new stake in Kontoor Brands during the second quarter worth about $27,000. Sound Income Strategies LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter valued at approximately $48,000. GAMMA Investing LLC boosted its holdings in shares of Kontoor Brands by 53.5% in the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after buying an additional 244 shares during the last quarter. Signaturefd LLC grew its stake in shares of Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after buying an additional 324 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in Kontoor Brands by 72.4% during the second quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock worth $95,000 after buying an additional 660 shares during the last quarter. Institutional investors and hedge funds 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.