Kontoor Brands (NYSE:KTB) Price Target Raised to $110.00

Kontoor Brands (NYSE:KTB) had its target price boosted by UBS Group from $103.00 to $110.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

KTB has been the topic of several other reports. Guggenheim boosted their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Barclays lifted their price objective on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $89.00 to $93.00 in a research note on Friday. Finally, Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Trading Down 4.6 %

NYSE KTB traded down $3.98 on Friday, hitting $81.65. 1,159,909 shares of the stock were exchanged, compared to its average volume of 485,484. Kontoor Brands has a 52-week low of $39.90 and a 52-week high of $89.76. 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 company has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.39, a P/E/G ratio of 1.99 and a beta of 1.20. The company’s 50-day moving average price is $77.81 and its two-hundred day moving average price is $71.34.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.12. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The firm had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. During the same period in the previous year, the company posted $1.22 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. Research analysts predict that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.55%. Kontoor Brands’s payout ratio is presently 46.85%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in KTB. Quest Partners LLC bought a new position in shares of Kontoor Brands during the 2nd quarter worth about $27,000. Northwest Investment Counselors LLC bought a new stake in Kontoor Brands in the third quarter valued at about $30,000. Farther Finance Advisors LLC increased its stake in Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after acquiring an additional 274 shares during the period. Sound Income Strategies LLC bought a new stake in Kontoor Brands in the third quarter valued at about $48,000. Finally, GAMMA Investing LLC increased its stake in Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after acquiring an additional 244 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.