Kontoor Brands (NYSE:KTB) Given New $90.00 Price Target at Wells Fargo & Company

Kontoor Brands (NYSE:KTB) had its target price upped by Wells Fargo & Company from $85.00 to $90.00 in a report published on Wednesday morning, Marketbeat.com reports. They currently have an overweight rating on the stock.

KTB has been the subject of a number of other reports. Stifel Nicolaus reduced their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Barclays boosted their target price on Kontoor Brands from $69.00 to $75.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Finally, UBS Group lifted their price target on Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $85.80.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $72.88 on Wednesday. The company has a market cap of $4.05 billion, a P/E ratio of 16.41, a price-to-earnings-growth ratio of 2.12 and a beta of 1.05. Kontoor Brands has a one year low of $50.00 and a one year high of $96.80. The business has a fifty day moving average of $61.59 and a two-hundred day moving average of $77.28. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. During the same quarter last year, the firm posted $1.16 EPS. The business’s revenue was down 1.3% compared to the same quarter last year. As a group, analysts predict that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Tuesday, June 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.85%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands’s payout ratio is currently 50.98%.

Institutional Investors Weigh In On Kontoor Brands

A number of large investors have recently bought and sold shares of KTB. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands in the fourth quarter valued at $29,000. Huntington National Bank raised its stake in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the last quarter. CX Institutional purchased a new position in Kontoor Brands in the 1st quarter valued at about $32,000. Versant Capital Management Inc boosted its stake in shares of Kontoor Brands by 46.7% during the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $42,000 after purchasing an additional 207 shares during the last quarter. Finally, EverSource Wealth Advisors LLC boosted its stake in shares of Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after purchasing an additional 503 shares during the last quarter. 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.