Kontoor Brands (NYSE:KTB) Price Target Raised to $86.00 at Barclays

Kontoor Brands (NYSE:KTB) had its target price lifted by Barclays from $75.00 to $86.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company lifted their price objective on Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Finally, UBS Group increased their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $88.00.

Kontoor Brands Price Performance

KTB stock opened at $72.99 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm’s 50-day moving average price is $62.65 and its two-hundred day moving average price is $77.08. The stock has a market capitalization of $4.06 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.12 and a beta of 1.05. Kontoor Brands has a 12-month low of $50.00 and a 12-month high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $1.16 by $0.04. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. During the same quarter last year, the firm posted $1.16 earnings per share. The firm’s revenue was down 1.3% on a year-over-year basis. As a group, equities analysts predict that Kontoor Brands will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.85%. Kontoor Brands’s dividend payout ratio is presently 50.98%.

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently modified their holdings of KTB. Intech Investment Management LLC lifted its position in Kontoor Brands by 69.1% during the first quarter. Intech Investment Management LLC now owns 46,189 shares of the company’s stock valued at $2,962,000 after purchasing an additional 18,869 shares during the last quarter. Jane Street Group LLC lifted its holdings in shares of Kontoor Brands by 128.0% in the 1st quarter. Jane Street Group LLC now owns 97,002 shares of the company’s stock valued at $6,221,000 after acquiring an additional 54,448 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kontoor Brands by 6.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 145,808 shares of the company’s stock worth $9,351,000 after acquiring an additional 8,660 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in Kontoor Brands during the first quarter worth approximately $898,000. Finally, United Services Automobile Association purchased a new stake in Kontoor Brands during the first quarter valued at approximately $205,000. 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.