Kontoor Brands (NYSE:KTB) Issues FY 2022 Earnings Guidance

Kontoor Brands (NYSE:KTB – Get Rating) updated its FY 2022 earnings guidance on Monday. The company provided EPS guidance of $4.75-$4.85 for the period, compared to the consensus EPS estimate of $4.52. The company issued revenue guidance of $2.70B-, compared to the consensus revenue estimate of $2.70 billion.Kontoor Brands also updated its Q2 2022 guidance to $1.05-$1.15 EPS.

Several equities research analysts recently issued reports on the stock. TheStreet raised shares of Kontoor Brands from a c rating to a b rating in a report on Friday, May 13th. Barclays cut their price objective on shares of Kontoor Brands from $63.00 to $53.00 in a report on Friday, April 1st. Zacks Investment Research lowered shares of Kontoor Brands from a buy rating to a hold rating in a report on Saturday. Finally, Stifel Nicolaus cut their target price on shares of Kontoor Brands from $50.00 to $45.00 in a report on Wednesday, May 18th. One investment analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Buy and an average target price of $62.20.

KTB traded up $1.14 during trading on Monday, reaching $37.37. The company had a trading volume of 5,265 shares, compared to its average volume of 479,147. The stock has a market cap of $2.09 billion, a P/E ratio of 10.01, a PEG ratio of 0.98 and a beta of 1.09. The business has a 50 day simple moving average of $41.76 and a 200-day simple moving average of $47.85. Kontoor Brands has a 52 week low of $35.62 and a 52 week high of $67.00. The company has a quick ratio of 1.12, a current ratio of 2.01 and a debt-to-equity ratio of 4.29.

Kontoor Brands (NYSE:KTB – Get Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $1.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.17. Kontoor Brands had a return on equity of 138.25% and a net margin of 8.46%. The company had revenue of $679.70 million during the quarter, compared to the consensus estimate of $655.65 million. During the same period last year, the company earned $1.43 earnings per share. Kontoor Brands’s revenue was up 4.3% on a year-over-year basis. As a group, equities research analysts expect that Kontoor Brands will post 4.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 20th. Stockholders of record on Friday, June 10th will be given a dividend of $0.46 per share. The ex-dividend date is Thursday, June 9th. This represents a $1.84 annualized dividend and a dividend yield of 4.92%. Kontoor Brands’s dividend payout ratio (DPR) is 50.83%.

Several large investors have recently added to or reduced their stakes in KTB. BlackRock Inc. increased its stake in shares of Kontoor Brands by 4.1% during the fourth quarter. BlackRock Inc. now owns 7,728,284 shares of the company’s stock valued at $396,075,000 after buying an additional 306,241 shares during the period. Vanguard Group Inc. increased its stake in shares of Kontoor Brands by 1.6% during the first quarter. Vanguard Group Inc. now owns 5,713,342 shares of the company’s stock valued at $236,247,000 after buying an additional 88,296 shares during the period. State Street Corp increased its stake in shares of Kontoor Brands by 1.0% during the first quarter. State Street Corp now owns 1,829,720 shares of the company’s stock valued at $75,659,000 after buying an additional 18,101 shares during the period. Wellington Management Group LLP increased its stake in shares of Kontoor Brands by 3.1% during the first quarter. Wellington Management Group LLP now owns 1,326,447 shares of the company’s stock valued at $54,848,000 after buying an additional 39,777 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in shares of Kontoor Brands by 3.4% during the first quarter. Goldman Sachs Group Inc. now owns 597,487 shares of the company’s stock valued at $24,706,000 after buying an additional 19,599 shares during the period. Institutional investors and hedge funds own 99.18% of the company’s stock.

About Kontoor Brands (Get Rating)

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.

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