Kontoor Brands (NYSE:KTB) Given a $85.00 Price Target at The Goldman Sachs Group

The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands (NYSE:KTB - Free Report) in a research report released on Tuesday morning, MarketBeat reports. The firm currently has a buy rating on the stock.

Several other equities research analysts have also weighed in on KTB. Stifel Nicolaus reduced their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Wells Fargo & Company increased their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Barclays boosted their price objective on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. Finally, UBS Group raised their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.50.

Kontoor Brands Price Performance

Shares of KTB traded down $2.53 during midday trading on Tuesday, reaching $62.01. The stock had a trading volume of 686,116 shares, compared to its average volume of 559,264. The firm's 50 day moving average price is $64.88 and its 200-day moving average price is $74.56. Kontoor Brands has a 52 week low of $50.00 and a 52 week high of $96.80. The company has a market capitalization of $3.45 billion, a P/E ratio of 13.97, a P/E/G ratio of 2.12 and a beta of 1.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

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

Kontoor Brands Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.35%. Kontoor Brands's payout ratio is presently 50.98%.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently bought and sold shares of KTB. Principal Financial Group Inc. boosted its holdings in shares of Kontoor Brands by 2.9% during the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock worth $22,294,000 after purchasing an additional 7,445 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Kontoor Brands by 5.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company's stock valued at $59,559,000 after buying an additional 35,932 shares during the period. Monument Capital Management boosted its stake in shares of Kontoor Brands by 1,033.5% during the 4th quarter. Monument Capital Management now owns 37,701 shares of the company's stock valued at $3,220,000 after buying an additional 34,375 shares during the period. Dana Investment Advisors Inc. purchased a new position in shares of Kontoor Brands during the 4th quarter valued at $654,000. Finally, Cibc World Markets Corp acquired a new position in shares of Kontoor Brands in the fourth quarter worth $440,000. Hedge funds and other institutional investors 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.