Kontoor Brands (NYSE:KTB) Hits New 1-Year High at $75.32

Kontoor Brands, Inc. (NYSE:KTB)’s share price hit a new 52-week high during trading on Friday . The company traded as high as $75.32 and last traded at $75.32, with a volume of 58296 shares trading hands. The stock had previously closed at $72.87.

Analysts Set New Price Targets

A number of equities analysts recently commented on KTB shares. Barclays upped their target price on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Guggenheim upped their target price on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Stifel Nicolaus upped their target price on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 14th. One investment analyst has rated the stock with a hold rating and six 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 $78.83.

Kontoor Brands Stock Performance

The business has a fifty day simple moving average of $70.11 and a 200-day simple moving average of $66.08. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The firm has a market cap of $4.17 billion, a P/E ratio of 18.45, a P/E/G ratio of 1.87 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10. The business had revenue of $607.00 million during the quarter, compared to the consensus estimate of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 earnings per share. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.8 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.67%. Kontoor Brands’s payout ratio is presently 50.63%.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its holdings in shares of Kontoor Brands by 20.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,756 shares of the company’s stock valued at $182,000 after acquiring an additional 461 shares in the last quarter. Creative Planning increased its holdings in shares of Kontoor Brands by 13.0% during the second quarter. Creative Planning now owns 27,396 shares of the company’s stock valued at $1,812,000 after acquiring an additional 3,149 shares in the last quarter. Algert Global LLC bought a new position in shares of Kontoor Brands during the second quarter valued at $334,000. The Manufacturers Life Insurance Company increased its holdings in shares of Kontoor Brands by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 31,959 shares of the company’s stock valued at $2,114,000 after acquiring an additional 934 shares in the last quarter. Finally, Millennium Management LLC increased its holdings in shares of Kontoor Brands by 351.7% during the second quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock valued at $22,976,000 after acquiring an additional 270,427 shares in the last quarter. 93.06% of the stock is currently owned by 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.