Kontoor Brands (NYSE:KTB) Trading Down 3.9% - What's Next?

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report)'s stock price traded down 3.9% during mid-day trading on Friday . The company traded as low as $81.90 and last traded at $82.31. 120,838 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 480,461 shares. The stock had previously closed at $85.63.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Barclays upped their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday. UBS Group upped their price objective on Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday. Wells Fargo & Company lifted their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Guggenheim boosted their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday. Finally, Stifel Nicolaus downgraded shares of Kontoor Brands from a "buy" rating to a "hold" rating and raised their price target for the company from $89.00 to $93.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.00.

Kontoor Brands Stock Performance

The company has a fifty day moving average price of $77.65 and a two-hundred day moving average price of $71.15. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. The company has a market capitalization of $4.55 billion, a P/E ratio of 19.30, a PEG ratio of 1.99 and a beta of 1.20.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping analysts' consensus estimates of $1.25 by $0.12. The firm had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The company's revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. Equities analysts forecast that Kontoor Brands, Inc. will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This is an increase from Kontoor Brands's previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.55%. Kontoor Brands's payout ratio is presently 47.28%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Summit Global Investments acquired a new position in Kontoor Brands in the third quarter valued at $1,446,000. Intact Investment Management Inc. raised its position in shares of Kontoor Brands by 17.8% in the 3rd quarter. Intact Investment Management Inc. now owns 30,400 shares of the company's stock worth $2,486,000 after acquiring an additional 4,600 shares in the last quarter. James Investment Research Inc. acquired a new position in shares of Kontoor Brands in the 3rd quarter valued at about $2,016,000. Farther Finance Advisors LLC boosted its position in shares of Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. Finally, US Bancorp DE grew its stake in Kontoor Brands by 24.1% during the third quarter. US Bancorp DE now owns 2,685 shares of the company's stock worth $220,000 after purchasing an additional 522 shares during the period. Institutional investors own 93.06% of the company's stock.

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.