Kontoor Brands (NYSE:KTB) Given New $89.00 Price Target at Stifel Nicolaus

Kontoor Brands (NYSE:KTB) had its price objective boosted by Stifel Nicolaus from $80.00 to $89.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also commented on the stock. Guggenheim upped their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Barclays upped their price target on shares of Kontoor Brands from $76.00 to $83.00 and gave the stock an overweight rating in a research 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 stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $80.33.

Kontoor Brands Stock Performance

NYSE:KTB opened at $78.83 on Monday. The firm has a 50 day simple moving average of $74.56 and a 200-day simple moving average of $68.68. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.43. The firm has a market cap of $4.39 billion, a PE ratio of 18.64, a P/E/G ratio of 2.08 and a beta of 1.20. Kontoor Brands has a 1-year low of $39.90 and a 1-year high of $83.50.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data 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. The business had revenue of $607.00 million during the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The company’s revenue was down 1.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.77 earnings per share. On average, equities analysts expect that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 10th. This represents a $2.00 annualized dividend and a yield of 2.54%. Kontoor Brands’s dividend payout ratio is currently 47.28%.

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors have recently bought and sold shares of the business. Arizona State Retirement System grew its stake in Kontoor Brands by 1.1% during the second quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock worth $929,000 after buying an additional 154 shares during the period. SG Americas Securities LLC boosted its stake in shares of Kontoor Brands by 5.0% in the second quarter. SG Americas Securities LLC now owns 3,544 shares of the company’s stock valued at $234,000 after purchasing an additional 169 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Kontoor Brands by 3.6% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company’s stock valued at $329,000 after purchasing an additional 175 shares during the period. Louisiana State Employees Retirement System boosted its stake in shares of Kontoor Brands by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock valued at $1,654,000 after purchasing an additional 200 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Kontoor Brands by 2.2% in the second quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock valued at $616,000 after purchasing an additional 203 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

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.