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

Kontoor Brands (NYSE:KTB) had its target price boosted by Guggenheim from $80.00 to $100.00 in a report published on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other equities analysts also recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus downgraded shares of 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 research note on Friday. Finally, UBS Group upped 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. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Stock Performance

NYSE KTB opened at $84.25 on Friday. Kontoor Brands has a 1 year low of $47.33 and a 1 year high of $89.76. The firm has a market capitalization of $4.69 billion, a P/E ratio of 18.98, a price-to-earnings-growth ratio of 2.23 and a beta of 1.19. The firm’s fifty day moving average price is $78.02 and its two-hundred day moving average price is $71.78. The company has a current ratio of 2.50, a quick ratio of 1.43 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. During the same period in the previous year, the company earned $1.22 earnings per share. The company’s quarterly revenue was up 2.4% on a year-over-year basis. As a group, research analysts anticipate that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Increases Dividend

The company 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 dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.47%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 9th. Kontoor Brands’s dividend payout ratio 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 dated 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 in the company, valued at $1,467,227.09. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On Kontoor Brands

A number of large investors have recently bought and sold shares of the company. Versor Investments LP grew its stake in Kontoor Brands by 112.0% during the third quarter. Versor Investments LP now owns 17,624 shares of the company’s stock worth $1,441,000 after buying an additional 9,312 shares in the last quarter. Kennebec Savings Bank bought a new position in shares of Kontoor Brands in the third quarter worth about $32,000. State of New Jersey Common Pension Fund D lifted its holdings in shares of Kontoor Brands by 3.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 26,940 shares of the company’s stock worth $2,203,000 after acquiring an additional 830 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in shares of Kontoor Brands by 17.5% in the third quarter. Crossmark Global Holdings Inc. now owns 6,841 shares of the company’s stock worth $560,000 after acquiring an additional 1,020 shares during the last quarter. Finally, Summit Global Investments bought a new position in shares of Kontoor Brands in the third quarter worth about $1,446,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.