Kontoor Brands (NYSE:KTB) Price Target Raised to $73.00 at Stifel Nicolaus

Key Points

• Stifel Nicolaus raised its price target for Kontoor Brands (NYSE:KTB) from $72.00 to $73.00, indicating a potential upside of 8.90% from its previous close with a "hold" rating.
• Goldman Sachs, Barclays, and UBS Group have set price targets for Kontoor Brands between $85.00 and $92.00, with an overall consensus rating of "Moderate Buy" and an average price target of $88.50.
• Kontoor Brands reported $1.21 EPS for the last quarter, beating expectations of $0.86, and achieved a revenue of $658.26 million, which is an 8.5% increase year-over-year.

Kontoor Brands (NYSE:KTB - Free Report) had its target price lifted by Stifel Nicolaus from $72.00 to $73.00 in a research note published on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

A number of other research analysts have also recently issued reports on KTB. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the company a "buy" rating in a report on Tuesday, June 10th. Barclays increased their target price on shares of Kontoor Brands from $86.00 to $91.00 and gave the company an "overweight" rating in a report on Friday. Finally, UBS Group increased their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. One investment analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $89.67.

Kontoor Brands Stock Performance

NYSE:KTB traded up $3.30 during mid-day trading on Friday, reaching $67.29. The stock had a trading volume of 1,558,183 shares, compared to its average volume of 808,058. The company has a debt-to-equity ratio of 2.74, a quick ratio of 1.65 and a current ratio of 2.18. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of 15.02, a PEG ratio of 1.63 and a beta of 1.11. Kontoor Brands has a twelve month low of $50.00 and a twelve month high of $96.80. The business has a 50 day simple moving average of $65.07 and a 200 day simple moving average of $67.98.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $1.21 EPS for the quarter, beating analysts' consensus estimates of $0.86 by $0.35. The firm had revenue of $658.26 million during the quarter, compared to the consensus estimate of $632.97 million. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%. The firm's revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 earnings per share. On average, analysts expect that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Tuesday, September 9th will be given a $0.52 dividend. The ex-dividend date is Tuesday, September 9th. This represents a $2.08 annualized dividend and a dividend yield of 3.1%. Kontoor Brands's dividend payout ratio is currently 50.98%.

Institutional Trading of Kontoor Brands

Several large investors have recently modified their holdings of KTB. AlphaQuest LLC boosted its position in Kontoor Brands by 2.2% during the first quarter. AlphaQuest LLC now owns 6,673 shares of the company's stock worth $428,000 after acquiring an additional 143 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Kontoor Brands by 14.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock valued at $101,000 after purchasing an additional 145 shares during the last quarter. Beacon Pointe Advisors LLC boosted its holdings in shares of Kontoor Brands by 3.4% in the 4th quarter. Beacon Pointe Advisors LLC now owns 6,206 shares of the company's stock valued at $530,000 after purchasing an additional 202 shares during the last quarter. TD Private Client Wealth LLC boosted its holdings in shares of Kontoor Brands by 12.7% in the 1st quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company's stock valued at $115,000 after purchasing an additional 203 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in shares of Kontoor Brands by 5.1% in the 1st quarter. Xponance Inc. now owns 4,230 shares of the company's stock valued at $271,000 after purchasing an additional 205 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.