UBS Group Issues Pessimistic Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its target price decreased by UBS Group from $108.00 to $96.00 in a research note released on Friday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other research analysts also recently weighed in on KTB. Wells Fargo & Company lifted their target price on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Guggenheim lifted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Barclays reduced their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Kontoor Brands presently has an average rating of “Moderate Buy” and an average price target of $93.17.

Kontoor Brands Stock Performance

Shares of KTB opened at $65.08 on Friday. The company’s 50 day simple moving average is $85.61 and its 200-day simple moving average is $83.00. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The firm has a market cap of $3.60 billion, a PE ratio of 14.66, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same period in the previous year, the business posted $1.28 earnings per share. Kontoor Brands’s quarterly revenue was up 4.4% on a year-over-year basis. As a group, equities analysts predict that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is currently 47.60%.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently made changes to their positions in KTB. International Assets Investment Management LLC boosted its holdings in Kontoor Brands by 8,078.0% during the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after buying an additional 28,273 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of Kontoor Brands by 0.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 46,432 shares of the company’s stock valued at $3,797,000 after acquiring an additional 375 shares during the period. US Bancorp DE boosted its stake in shares of Kontoor Brands by 24.1% during the 3rd quarter. US Bancorp DE now owns 2,685 shares of the company’s stock worth $220,000 after acquiring an additional 522 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the period. Finally, James Investment Research Inc. purchased a new position in Kontoor Brands in the 3rd quarter valued at approximately $2,016,000. 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.