Kontoor Brands (NYSE:KTB) Given New $103.00 Price Target at UBS Group

Kontoor Brands (NYSE:KTB) had its target price hoisted by UBS Group from $90.00 to $103.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms have also weighed in on KTB. Barclays upped their price objective on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Stifel Nicolaus upped their price objective on Kontoor Brands from $80.00 to $89.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Finally, Guggenheim upped their price objective on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $83.33.

Kontoor Brands Trading Down 2.4 %

Kontoor Brands stock opened at $81.71 on Friday. The business has a 50 day moving average price of $76.52 and a two-hundred day moving average price of $70.07. 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 stock has a market cap of $4.56 billion, a price-to-earnings ratio of 20.68, a price-to-earnings-growth ratio of 2.08 and a beta of 1.20. Kontoor Brands has a 12 month low of $39.90 and a 12 month high of $84.21.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.10. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The company had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. During the same period in the prior year, the company posted $0.77 EPS. The company’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts forecast that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th were given a $0.50 dividend. The ex-dividend date was Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.45%. Kontoor Brands’s payout ratio is 50.63%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC lifted its stake in shares of Kontoor Brands by 44.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock valued at $1,465,000 after purchasing an additional 7,466 shares during the period. Magnetar Financial LLC acquired a new stake in Kontoor Brands during the 1st quarter worth $1,508,000. Capstone Investment Advisors LLC acquired a new stake in Kontoor Brands during the 1st quarter worth $2,013,000. Sei Investments Co. raised its stake in shares of Kontoor Brands by 78.9% in the 2nd quarter. Sei Investments Co. now owns 52,658 shares of the company’s stock valued at $3,483,000 after purchasing an additional 23,223 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Kontoor Brands by 48.7% in the 2nd quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock valued at $2,387,000 after purchasing an additional 11,810 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

About Kontoor Brands

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.