Kontoor Brands (NYSE:KTB) Price Target Raised to $90.00

Kontoor Brands (NYSE:KTB) had its price objective upped by Wells Fargo & Company from $85.00 to $90.00 in a research report released on Wednesday, Marketbeat.com reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on KTB. Barclays upped their price target on shares of Kontoor Brands from $69.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, May 7th. UBS Group lifted their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus cut their price target on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a report on Thursday, April 10th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.80.

Kontoor Brands Trading Down 1.2%

KTB opened at $72.72 on Wednesday. The firm’s fifty day moving average is $62.13 and its two-hundred day moving average is $77.22. The firm has a market cap of $4.04 billion, a PE ratio of 16.38, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Kontoor Brands has a twelve month low of $50.00 and a twelve month high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same quarter last year, the business posted $1.16 EPS. The firm’s revenue was down 1.3% compared to the same quarter last year. Equities research analysts anticipate that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $2.08 annualized dividend and a yield of 2.86%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.98%.

Hedge Funds Weigh In On Kontoor Brands

Hedge funds have recently modified their holdings of the stock. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands during the 4th quarter worth approximately $29,000. Huntington National Bank raised its position in 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 acquiring an additional 148 shares in the last quarter. CX Institutional acquired a new stake in Kontoor Brands in the first quarter valued at $32,000. Versant Capital Management Inc grew its position in shares of Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $42,000 after acquiring an additional 207 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Kontoor Brands by 229.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after purchasing an additional 503 shares during the period. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Company Profile

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.