Kontoor Brands (NYSE:KTB - Free Report) had its target price lowered by UBS Group from $108.00 to $96.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.
A number of other brokerages have also commented on KTB. Barclays cut their price target on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price objective on Kontoor Brands from $95.00 to $100.00 and gave the stock an "overweight" rating in a research report on Thursday, February 20th. Stifel Nicolaus cut shares of Kontoor Brands from a "buy" rating to a "hold" rating and increased their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Guggenheim lifted their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Kontoor Brands currently has a consensus rating of "Moderate Buy" and a consensus target price of $93.17.
Check Out Our Latest Stock Report on Kontoor Brands
Kontoor Brands Price Performance
Shares of NYSE KTB traded down $0.71 during mid-day trading on Friday, reaching $62.43. The company had a trading volume of 793,599 shares, compared to its average volume of 683,127. 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 has a one year low of $52.95 and a one year high of $96.80. The firm has a market cap of $3.45 billion, a price-to-earnings ratio of 14.06, a PEG ratio of 2.12 and a beta of 1.19. The business's 50-day simple moving average is $84.66 and its 200 day simple moving average is $83.07.
Kontoor Brands (NYSE:KTB - Get Free Report) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping analysts' consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million during the quarter, compared to analysts' expectations of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands's revenue was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.28 EPS. On average, research analysts predict that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.
Kontoor Brands Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.33%. Kontoor Brands's payout ratio is 47.60%.
Institutional Trading of Kontoor Brands
Hedge funds and other institutional investors have recently modified their holdings of the business. Jennison Associates LLC grew its position in shares of Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company's stock valued at $61,942,000 after purchasing an additional 320,117 shares in the last quarter. Marshall Wace LLP increased its position in shares of Kontoor Brands by 97.3% during the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company's stock valued at $49,524,000 after buying an additional 285,897 shares during the period. Man Group plc lifted its holdings in shares of Kontoor Brands by 119.1% in the fourth quarter. Man Group plc now owns 466,065 shares of the company's stock worth $39,807,000 after buying an additional 253,360 shares in the last quarter. Norges Bank bought a new position in shares of Kontoor Brands in the fourth quarter valued at approximately $17,630,000. Finally, Geode Capital Management LLC grew its stake in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after acquiring an additional 199,601 shares in the last quarter. Institutional investors own 93.06% of the company's stock.
About Kontoor Brands
(
Get Free Report)
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.
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