Kontoor Brands (NYSE:KTB) Price Target Cut to $69.00 by Analysts at Barclays

Kontoor Brands (NYSE:KTB - Free Report) had its price objective decreased by Barclays from $93.00 to $69.00 in a research note released on Monday morning, MarketBeat reports. Barclays currently has an overweight rating on the stock.

A number of other analysts also recently commented on the company. Stifel Nicolaus decreased their target price 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. UBS Group lowered their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company dropped their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands has a consensus rating of "Moderate Buy" and a consensus price target of $83.17.

Kontoor Brands Price Performance

NYSE:KTB traded down $0.62 during trading hours on Monday, hitting $60.16. The company's stock had a trading volume of 688,145 shares, compared to its average volume of 538,321. Kontoor Brands has a 52-week low of $50.00 and a 52-week high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The business's 50-day moving average is $62.01 and its two-hundred day moving average is $78.29. The company has a market capitalization of $3.33 billion, a PE ratio of 13.55, a PEG ratio of 2.12 and a beta of 0.93.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business's revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.28 EPS. As a group, research analysts anticipate that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.46%. The ex-dividend date of this dividend is Tuesday, June 10th. Kontoor Brands's dividend payout ratio is presently 47.60%.

Institutional Trading of Kontoor Brands

A number of hedge funds have recently bought and sold shares of the company. Mendel Money Management boosted its holdings in shares of Kontoor Brands by 2.8% during the fourth quarter. Mendel Money Management now owns 4,934 shares of the company's stock worth $421,000 after purchasing an additional 135 shares during the last quarter. Janney Montgomery Scott LLC lifted its position in Kontoor Brands by 3.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company's stock worth $408,000 after buying an additional 141 shares during the period. Quadrant Capital Group LLC boosted its stake in Kontoor Brands by 14.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock worth $101,000 after buying an additional 145 shares during the last quarter. Huntington National Bank grew its holdings in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after buying an additional 148 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company's stock valued at $75,000 after acquiring an additional 182 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.