Kontoor Brands, Inc. (NYSE:KTB – Get Free Report)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $65.09, but opened at $68.15. Kontoor Brands shares last traded at $67.6740, with a volume of 102,315 shares.
Analyst Upgrades and Downgrades
KTB has been the subject of several research reports. Stifel Nicolaus boosted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Barclays boosted their price objective on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Jefferies Financial Group initiated coverage on Kontoor Brands in a research note on Wednesday, February 4th. They set a “hold” rating and a $65.00 price objective for the company. Zacks Research lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 11th. Finally, Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research note on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and an average target price of $91.33.
View Our Latest Analysis on KTB
Kontoor Brands Stock Up 0.6%
Kontoor Brands (NYSE:KTB – Get Free Report) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). The company had revenue of $613.32 million during the quarter, compared to analysts’ expectations of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. Kontoor Brands’s revenue for the quarter was up 45.0% on a year-over-year basis. During the same quarter last year, the company earned $1.20 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Equities research analysts forecast that Kontoor Brands, Inc. will post 5.2 earnings per share for the current fiscal year.
Kontoor Brands Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 18th. Stockholders of record on Monday, June 8th will be given a $0.53 dividend. The ex-dividend date is Monday, June 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 3.0%. Kontoor Brands’s dividend payout ratio is 42.91%.
Institutional Investors Weigh In On Kontoor Brands
Large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in Kontoor Brands by 29.1% in the first quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock worth $6,793,000 after acquiring an additional 23,880 shares during the period. AQR Capital Management LLC grew its position in Kontoor Brands by 49.3% in the first quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock worth $939,000 after acquiring an additional 4,836 shares during the period. Integrated Wealth Concepts LLC grew its position in Kontoor Brands by 250.8% in the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock worth $602,000 after acquiring an additional 6,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Kontoor Brands by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock worth $2,102,000 after acquiring an additional 1,432 shares during the period. Finally, Millennium Management LLC grew its position in Kontoor Brands by 222.5% in the first quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock worth $10,026,000 after acquiring an additional 107,855 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.
About Kontoor Brands
Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.
Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.
Read More
- Five stocks we like better than Kontoor Brands
- SpaceX IPO: Opportunity? Or the Ultimate Hype Trade?
- CAVA Group’s Stock Looks Delicious After Strong Earnings
- Lowe’s Finds Support at $215 After Q1 Earnings Sell-Off
- Deere Beats Q2 Estimates, But Ag Weakness Weighs on Outlook
Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.
