Kontoor Brands (NYSE:KTB) Sets New 12-Month High at $69.69

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report)'s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $69.69 and last traded at $67.85, with a volume of 182278 shares trading hands. The stock had previously closed at $62.14.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KTB shares. The Goldman Sachs Group raised their price target on Kontoor Brands from $56.00 to $64.00 and gave the stock a "buy" rating in a report on Thursday, February 29th. UBS Group upped their price target on Kontoor Brands from $83.00 to $85.00 and gave the company a "buy" rating in a research note on Friday, February 16th. Barclays reduced their price target on Kontoor Brands from $75.00 to $65.00 and set an "overweight" rating on the stock in a research report on Thursday, February 29th. Finally, Edward Jones downgraded Kontoor Brands from a "buy" rating to a "hold" rating in a research note on Friday, January 26th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and a consensus price target of $70.40.

Kontoor Brands Price Performance

The company has a market capitalization of $3.76 billion, a P/E ratio of 16.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The company has a fifty day moving average price of $58.98 and a 200 day moving average price of $56.96. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.66 and a quick ratio of 1.38.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing analysts' consensus estimates of $1.37 by ($0.02). Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The firm had revenue of $669.80 million during the quarter, compared to analyst estimates of $720.70 million. On average, sell-side analysts forecast that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 49.26%.

Hedge Funds Weigh In On Kontoor Brands

Several hedge funds have recently bought and sold shares of the business. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Kontoor Brands in the fourth quarter valued at about $25,000. Principal Securities Inc. bought a new position in Kontoor Brands during the fourth quarter worth about $32,000. Cary Street Partners Investment Advisory LLC lifted its stake in Kontoor Brands by 5,710.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company's stock worth $26,000 after purchasing an additional 571 shares during the period. Oakworth Capital Inc. lifted its stake in Kontoor Brands by 157.8% during the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company's stock worth $49,000 after purchasing an additional 478 shares during the period. Finally, Headlands Technologies LLC bought a new position in Kontoor Brands during the fourth quarter worth about $81,000. 93.06% of the stock is owned by institutional investors and hedge funds.

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.