Kontoor Brands (NYSE:KTB) Price Target Raised to $100.00 at Barclays

Kontoor Brands (NYSE:KTB) had its price objective lifted by Barclays from $83.00 to $100.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also recently commented on KTB. UBS Group boosted their target price on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and upped their price target for the company from $89.00 to $93.00 in a report on Friday. Guggenheim upped their price target on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $84.25 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.09. The stock has a 50 day simple moving average of $78.02 and a 200-day simple moving average of $71.78. The company has a market cap of $4.69 billion, a PE ratio of 18.98, a P/E/G ratio of 2.23 and a beta of 1.19. Kontoor Brands has a 12-month low of $47.33 and a 12-month high of $89.76.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, equities research analysts forecast that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Monday, December 9th. Kontoor Brands’s payout ratio is 45.05%.

Insider Buying and Selling at Kontoor Brands

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at $1,467,227.09. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. Quest Partners LLC bought a new stake in Kontoor Brands in the second quarter worth $27,000. Northwest Investment Counselors LLC bought a new stake in Kontoor Brands in the third quarter worth $30,000. Kennebec Savings Bank bought a new stake in Kontoor Brands in the third quarter worth $32,000. Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC acquired a new position in Kontoor Brands during the 3rd quarter worth $48,000. 93.06% of the stock is currently owned by hedge funds and other 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.