Kontoor Brands (NYSE:KTB) Price Target Raised to $100.00 at Wells Fargo & Company

Kontoor Brands (NYSE:KTB - Free Report) had its price target upped by Wells Fargo & Company from $95.00 to $100.00 in a research note issued to investors on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts have also recently commented on KTB. Guggenheim raised their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. UBS Group reduced their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a "buy" rating for the company in a research note on Tuesday. Barclays raised their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus cut shares of Kontoor Brands from a "buy" rating to a "hold" rating and raised their target price for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $96.33.

Kontoor Brands Stock Performance

Shares of KTB stock traded down $1.52 during mid-day trading on Thursday, hitting $88.01. The stock had a trading volume of 806,300 shares, compared to its average volume of 561,147. Kontoor Brands has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The firm has a market cap of $4.85 billion, a PE ratio of 19.82, a PEG ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company's 50-day simple moving average is $87.14 and its 200-day simple moving average is $82.78.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 2.36%. Kontoor Brands's dividend payout ratio (DPR) is currently 46.85%.

Hedge Funds Weigh In On Kontoor Brands

Several hedge funds have recently added to or reduced their stakes in the business. Mendel Money Management increased its holdings in Kontoor Brands by 2.8% during the 4th quarter. Mendel Money Management now owns 4,934 shares of the company's stock valued at $421,000 after acquiring an additional 135 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Kontoor Brands by 3.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company's stock valued at $408,000 after acquiring an additional 141 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in Kontoor Brands by 14.1% during the 4th quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company's stock valued at $101,000 after acquiring an additional 145 shares in the last quarter. Huntington National Bank grew its holdings in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after buying an additional 148 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company's stock worth $75,000 after buying an additional 182 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

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.