Kontoor Brands (NYSE:KTB) PT Raised to $76.00

Kontoor Brands (NYSE:KTB) had its price target hoisted by Barclays from $65.00 to $76.00 in a research report released on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

KTB has been the subject of a number of other research reports. The Goldman Sachs Group increased their target price on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a buy rating in a research report on Thursday, February 29th. UBS Group boosted their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, Edward Jones downgraded Kontoor Brands from a buy rating to a hold rating in a report on Friday, January 26th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $75.20.

Kontoor Brands Trading Up 0.2 %

NYSE KTB opened at $65.81 on Friday. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of 16.66, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. Kontoor Brands has a one year low of $37.10 and a one year high of $69.69. 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 company’s 50-day simple moving average is $59.16 and its two-hundred day simple moving average is $57.47.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The firm had revenue of $631.20 million during the quarter, compared to analyst estimates of $607.91 million. During the same period in the previous year, the company posted $1.16 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts forecast that Kontoor Brands will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

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

Institutional Investors Weigh In On Kontoor Brands

A number of large investors have recently bought and sold shares of KTB. Prime Capital Investment Advisors LLC boosted its holdings in shares of Kontoor Brands by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock valued at $571,000 after acquiring an additional 172 shares during the last quarter. Kinloch Capital LLC boosted its stake in shares of Kontoor Brands by 0.6% in the third quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock worth $1,599,000 after buying an additional 209 shares during the last quarter. State Board of Administration of Florida Retirement System grew its holdings in Kontoor Brands by 1.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock worth $705,000 after acquiring an additional 250 shares during the period. Commonwealth Equity Services LLC raised its position in Kontoor Brands by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock valued at $554,000 after acquiring an additional 279 shares in the last quarter. Finally, Arizona State Retirement System lifted its holdings in Kontoor Brands by 2.4% in the third quarter. Arizona State Retirement System now owns 14,370 shares of the company’s stock valued at $631,000 after acquiring an additional 335 shares during the period. Hedge funds and other 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.