Kontoor Brands (NYSE:KTB) Given New $110.00 Price Target at UBS Group

Kontoor Brands (NYSE:KTB) had its price objective hoisted by UBS Group from $103.00 to $110.00 in a report published on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also weighed in on KTB. Wells Fargo & Company increased their target price on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the company from $89.00 to $93.00 in a research report on Friday. Barclays raised their price objective on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Guggenheim raised their target price on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Price Performance

Shares of KTB traded down $3.98 on Friday, reaching $81.65. The stock had a trading volume of 1,159,909 shares, compared to its average volume of 485,484. The firm has a market capitalization of $4.55 billion, a PE ratio of 18.39, a PEG ratio of 1.99 and a beta of 1.20. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The firm has a 50-day moving average of $77.81 and a 200 day moving average of $71.34. Kontoor Brands has a twelve month low of $39.90 and a twelve month high of $89.76.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.12. The company had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The business’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.22 EPS. Sell-side analysts expect that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be issued a $0.52 dividend. The ex-dividend date is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.55%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is currently 46.85%.

Hedge Funds Weigh In On Kontoor Brands

A number of large investors have recently bought and sold shares of the business. Quest Partners LLC bought a new stake in shares of Kontoor Brands during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC bought a new stake in Kontoor Brands during the third quarter worth approximately $30,000. Farther Finance Advisors LLC raised its holdings in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 274 shares in the last quarter. Sound Income Strategies LLC bought a new stake in Kontoor Brands during the third quarter worth approximately $48,000. Finally, GAMMA Investing LLC raised its holdings in Kontoor Brands by 53.5% during the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after purchasing an additional 244 shares in the last quarter. 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.