Kontoor Brands (NYSE:KTB) Price Target Increased to $77.00 by Analysts at The Goldman Sachs Group

Kontoor Brands (NYSE:KTB) had its price objective upped by The Goldman Sachs Group from $68.00 to $77.00 in a research note published on Friday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts also recently issued reports on KTB. UBS Group raised their price target on Kontoor Brands from $83.00 to $85.00 and gave the company a buy rating in a research report on Friday, February 16th. Barclays raised their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an overweight rating in a report on Friday. Finally, Edward Jones lowered Kontoor Brands from a buy rating to a hold rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $75.20.

Kontoor Brands Stock Up 0.2 %

KTB opened at $65.81 on Friday. The firm has a market cap of $3.67 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.42 and a current ratio of 2.70. The business has a 50 day moving average price of $59.16 and a 200 day moving average price of $57.47. Kontoor Brands has a twelve month low of $37.10 and a twelve month high of $69.69.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.26. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The business had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. During the same period in the previous year, the company earned $1.16 earnings per share. Kontoor Brands’s revenue for the quarter was down 5.4% on a year-over-year basis. Research analysts forecast that Kontoor Brands will post 4.7 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a yield of 3.04%. Kontoor Brands’s payout ratio is currently 50.63%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Kontoor Brands by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock valued at $282,195,000 after purchasing an additional 20,964 shares during the period. FMR LLC grew its position in Kontoor Brands by 3.1% in the third quarter. FMR LLC now owns 3,866,900 shares of the company’s stock valued at $169,796,000 after acquiring an additional 117,815 shares during the period. Victory Capital Management Inc. raised its stake in Kontoor Brands by 60.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,602,908 shares of the company’s stock worth $100,054,000 after acquiring an additional 601,646 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Kontoor Brands by 3.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,145,370 shares of the company’s stock valued at $71,496,000 after acquiring an additional 35,637 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of Kontoor Brands by 0.7% in the 3rd quarter. Northern Trust Corp now owns 954,563 shares of the company’s stock valued at $41,915,000 after purchasing an additional 6,754 shares in the last quarter. 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.