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

Kontoor Brands (NYSE:KTB) had its target price boosted by Barclays from $83.00 to $100.00 in a research note released on Friday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other analysts have also recently commented on KTB. Guggenheim increased their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the company from $89.00 to $93.00 in a research note on Friday. UBS Group increased their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday. Finally, Wells Fargo & Company increased their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note 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. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Stock Performance

NYSE:KTB opened at $84.25 on Friday. Kontoor Brands has a 12-month low of $47.33 and a 12-month high of $89.76. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $4.69 billion, a PE ratio of 18.98, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The firm has a 50-day moving average price of $78.02 and a 200 day moving average price of $71.78.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.11. The firm had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.22 earnings per share. Research analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Shareholders of record on Monday, December 9th will be paid a $0.52 dividend. The ex-dividend date is Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.47%. Kontoor Brands’s dividend payout ratio (DPR) is presently 45.05%.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Kontoor Brands

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

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.