Kontoor Brands (NYSE:KTB) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Kontoor Brands (NYSE:KTB) from a buy rating to a strong-buy rating in a research report sent to investors on Saturday morning.

A number of other brokerages have also recently commented on KTB. The Goldman Sachs Group boosted their price target on Kontoor Brands from $84.00 to $95.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Weiss Ratings reissued a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday, December 29th. UBS Group boosted their price target on Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Stifel Nicolaus boosted their price target on Kontoor Brands from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, BTIG Research boosted their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Kontoor Brands Stock Up 1.3%

KTB stock opened at $78.29 on Friday. Kontoor Brands has a fifty-two week low of $53.55 and a fifty-two week high of $87.00. The business’s 50 day moving average price is $69.81 and its two-hundred day moving average price is $69.83. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.87 and a current ratio of 1.82. The company has a market capitalization of $4.33 billion, a price-to-earnings ratio of 19.33 and a beta of 1.05.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, March 3rd. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.08. Kontoor Brands had a return on equity of 62.02% and a net margin of 7.22%.The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $975.78 million. During the same quarter in the prior year, the business earned $1.38 EPS. The business’s revenue for the quarter was up 45.6% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. As a group, analysts forecast that Kontoor Brands will post 6.46 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Investors of record on Tuesday, March 10th were given a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $2.12 annualized dividend and a yield of 2.7%. Kontoor Brands’s dividend payout ratio is 52.35%.

Hedge Funds Weigh In On Kontoor Brands

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. lifted its position in Kontoor Brands by 73.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Clearstead Advisors LLC lifted its position in Kontoor Brands by 2,538.5% in the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after acquiring an additional 330 shares in the last quarter. Salomon & Ludwin LLC lifted its position in Kontoor Brands by 2,614.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 380 shares of the company’s stock valued at $31,000 after acquiring an additional 366 shares in the last quarter. First Horizon Corp bought a new position in Kontoor Brands in the 3rd quarter valued at approximately $31,000. Finally, Assetmark Inc. raised its stake in Kontoor Brands by 532.3% during the 3rd quarter. Assetmark Inc. now owns 392 shares of the company’s stock valued at $31,000 after buying an additional 330 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

About Kontoor Brands

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.