Kontoor Brands, Inc., a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online. As of January 1, 2022, it operated 80 retail stores across the Americas, Europe, the Middle East, Africa, and the Asia-Pacific regions. The company was incorporated in 2018 and is headquartered in Greensboro, North Carolina.
Wall Street Analyst Weigh In
A number of research firms have issued reports on KTB. Stifel Nicolaus cut their target price on Kontoor Brands from $45.00 to $38.00 in a research note on Wednesday, July 20th. Williams Capital restated a "downgrade" rating on shares of Kontoor Brands in a research report on Monday, July 25th. Wells Fargo & Company began coverage on Kontoor Brands in a report on Monday, July 11th. They set an "overweight" rating and a $40.00 price target on the stock. Barclays lowered Kontoor Brands from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $53.00 to $40.00 in a report on Wednesday, June 8th. Finally, UBS Group cut their target price on Kontoor Brands from $78.00 to $50.00 in a research note on Friday, July 15th. Three analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $40.83.
Kontoor Brands Price Performance
Shares of NYSE:KTB traded up $2.32 during mid-day trading on Tuesday, reaching $42.31. 408,844 shares of the company traded hands, compared to its average volume of 470,805. The firm has a market cap of $2.34 billion, a PE ratio of 9.82, a price-to-earnings-growth ratio of 1.14 and a beta of 1.14. The company has a debt-to-equity ratio of 4.39, a current ratio of 2.06 and a quick ratio of 0.90. Kontoor Brands has a fifty-two week low of $30.98 and a fifty-two week high of $61.24. The stock has a fifty day simple moving average of $35.65 and a 200-day simple moving average of $40.55.
Kontoor Brands (NYSE:KTB - Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.06 by $0.03. Kontoor Brands had a return on equity of 155.26% and a net margin of 9.52%. The company had revenue of $613.50 million for the quarter, compared to analysts' expectations of $624.46 million. During the same period last year, the firm earned $0.40 EPS. The firm's revenue for the quarter was up 25.0% on a year-over-year basis. Equities research analysts anticipate that Kontoor Brands will post 4.45 EPS for the current fiscal year.
Kontoor Brands Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Friday, September 9th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, September 8th. This represents a $1.84 annualized dividend and a dividend yield of 4.35%. Kontoor Brands's dividend payout ratio (DPR) is 42.69%.