Wells Fargo & Company Issues Pessimistic Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its price objective decreased by Wells Fargo & Company from $100.00 to $90.00 in a report issued on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other equities analysts also recently commented on the stock. UBS Group decreased their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 28th. Barclays decreased their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, Kontoor Brands currently has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Kontoor Brands Stock Down 2.6 %

KTB stock opened at $59.50 on Thursday. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $3.29 billion, a P/E ratio of 13.40, a PEG ratio of 2.12 and a beta of 1.23. The firm has a 50 day simple moving average of $81.15 and a 200-day simple moving average of $82.35.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, topping 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 business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same quarter last year, the company earned $1.28 earnings per share. The business’s quarterly revenue was up 4.4% compared to the same quarter last year. On average, equities research 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 Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC bought a new stake in Kontoor Brands in the third quarter valued at $332,000. Janus Henderson Group PLC lifted its stake in Kontoor Brands by 31.4% in the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after buying an additional 11,337 shares during the last quarter. Fortitude Family Office LLC lifted its stake in Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after buying an additional 7,445 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in Kontoor Brands by 6.7% in the third quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after buying an additional 1,087 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

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.