Kontoor Brands (NYSE:KTB) Price Target Increased to $89.00 by Analysts at Stifel Nicolaus

by · The Cerbat Gem

Kontoor Brands (NYSE:KTB – Free Report) had its price target increased by Stifel Nicolaus from $80.00 to $89.00 in a report released on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently commented on the stock. Barclays raised their price objective on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an overweight rating in a research note on Friday, August 2nd. Guggenheim upped their price target on Kontoor Brands from $75.00 to $80.00 and gave the stock a buy rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Kontoor Brands presently has a consensus rating of Moderate Buy and a consensus target price of $80.33.

Read Our Latest Report on KTB

Kontoor Brands Price Performance

Shares of KTB opened at $79.76 on Monday. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The stock’s 50 day moving average is $74.37 and its two-hundred day moving average is $68.61. Kontoor Brands has a twelve month low of $39.90 and a twelve month high of $83.50. The firm has a market capitalization of $4.45 billion, a PE ratio of 20.19, a P/E/G ratio of 2.02 and a beta of 1.20.

Kontoor Brands (NYSE:KTB – Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm had revenue of $607.00 million for the quarter, compared to the consensus estimate of $592.97 million. During the same period in the previous year, the business earned $0.77 earnings per share. The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. Research analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Tuesday, September 10th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date of this dividend was Tuesday, September 10th. Kontoor Brands’s payout ratio is currently 50.63%.

Hedge Funds Weigh In On Kontoor Brands

Several hedge funds have recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of Kontoor Brands during the second quarter valued at $27,000. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 244 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Kontoor Brands by 49.9% during the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after buying an additional 324 shares in the last quarter. Blue Trust Inc. raised its position in shares of Kontoor Brands by 72.4% in the second quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock valued at $95,000 after buying an additional 660 shares during the last quarter. Finally, Headlands Technologies LLC lifted its stake in shares of Kontoor Brands by 22.7% during the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after buying an additional 293 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

About Kontoor Brands

(Get Free Report)

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.

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