Kontoor Brands (NYSE:KTB) Price Target Increased to $76.00 by Analysts at Barclays

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

Other research analysts have also recently issued reports about the stock. The Goldman Sachs Group increased their price target on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a buy rating in a report on Thursday, February 29th. Edward Jones downgraded shares of Kontoor Brands from a buy rating to a hold rating in a report on Friday, January 26th. Finally, UBS Group lifted their price target on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a buy rating in a research report on Friday, February 16th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands has a consensus rating of Moderate Buy and an average target price of $75.20.

Kontoor Brands Price Performance

Shares of KTB opened at $65.81 on Friday. The company has a market cap of $3.67 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 1.74 and a beta of 1.11. The company has a current ratio of 2.70, a quick ratio of 1.42 and a debt-to-equity ratio of 1.96. The company’s fifty day simple moving average is $59.16 and its 200 day simple moving average is $57.47. Kontoor Brands has a 1-year low of $37.10 and a 1-year high of $69.69.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $607.91 million. During the same period last year, the business posted $1.16 EPS. Kontoor Brands’s revenue was down 5.4% on a year-over-year basis. On average, research analysts forecast that Kontoor Brands will post 4.7 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders 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 Trading of Kontoor Brands

Several large investors have recently bought and sold shares of KTB. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Kontoor Brands during the 4th quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Kontoor Brands by 5,710.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock worth $26,000 after purchasing an additional 571 shares during the period. Principal Securities Inc. bought a new stake in shares of Kontoor Brands in the fourth quarter worth $32,000. Oakworth Capital Inc. increased its holdings in Kontoor Brands by 157.8% in the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after purchasing an additional 478 shares during the period. Finally, Jones Financial Companies Lllp lifted its holdings in Kontoor Brands by 121.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock worth $57,000 after buying an additional 715 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

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.