Kontoor Brands (NYSE:KTB) Price Target Raised to $75.00

Kontoor Brands (NYSE:KTB - Free Report) had its target price raised by Barclays from $69.00 to $75.00 in a research report report published on Wednesday, Marketbeat Ratings reports. Barclays currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on KTB. Stifel Nicolaus lowered their price objective on shares of 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 reduced their price objective on Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company lowered their target price on Kontoor Brands from $90.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, Kontoor Brands has a consensus rating of "Moderate Buy" and an average price target of $84.80.

Kontoor Brands Stock Down 0.8 %

Shares of NYSE:KTB traded down $0.56 during trading hours on Wednesday, reaching $68.62. The stock had a trading volume of 557,672 shares, compared to its average volume of 537,692. Kontoor Brands has a 1 year low of $50.00 and a 1 year high of $96.80. The firm's 50 day moving average is $60.87 and its 200-day moving average is $77.36. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 2.12 and a beta of 1.05. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million for the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands's revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. Research analysts predict that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.03%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands's payout ratio is 50.98%.

Institutional Trading of Kontoor Brands

A number of institutional investors have recently modified their holdings of the business. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands in the fourth quarter valued at $29,000. Huntington National Bank lifted its stake in shares of Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock valued at $33,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC boosted its holdings in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after buying an additional 334 shares in the last quarter. CX Institutional acquired a new position in Kontoor Brands during the first quarter worth about $32,000. Finally, Versant Capital Management Inc increased its holdings in Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock valued at $42,000 after buying an additional 207 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

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.