Barclays Boosts Kontoor Brands (NYSE:KTB) Price Target to $76.00

Kontoor Brands (NYSE:KTB) had its price target raised by Barclays from $65.00 to $76.00 in a research note published on Friday, Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other analysts also recently issued reports on KTB. UBS Group lifted their price target on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a buy rating in a research report on Friday, February 16th. Edward Jones cut Kontoor Brands from a buy rating to a hold rating in a research note on Friday, January 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a buy rating in a research note on Thursday, February 29th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, Kontoor Brands presently has a consensus rating of Moderate Buy and a consensus target price of $75.20.

Kontoor Brands Stock Performance

NYSE KTB traded down $1.72 on Friday, reaching $65.65. The stock had a trading volume of 1,008,759 shares, compared to its average volume of 584,365. Kontoor Brands has a 1-year low of $37.10 and a 1-year high of $69.69. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.38. The firm has a fifty day moving average of $59.10 and a two-hundred day moving average of $57.18. The company has a market cap of $3.66 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 1.79 and a beta of 1.11.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.26. The business had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. Kontoor Brands’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $1.16 earnings per share. On average, equities research analysts anticipate that Kontoor Brands will post 4.7 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is currently 50.63%.

Institutional Trading of Kontoor Brands

A number of institutional investors and hedge funds have recently bought and sold shares of KTB. Prime Capital Investment Advisors LLC grew its stake in Kontoor Brands by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock worth $571,000 after acquiring an additional 172 shares in the last quarter. Kinloch Capital LLC lifted its position in shares of Kontoor Brands by 0.6% during the 3rd quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock valued at $1,599,000 after buying an additional 209 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Kontoor Brands by 1.6% during the third quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock worth $705,000 after purchasing an additional 250 shares in the last quarter. Commonwealth Equity Services LLC raised its holdings in shares of Kontoor Brands by 2.3% during the third quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock valued at $554,000 after acquiring an additional 279 shares during the last quarter. Finally, Arizona State Retirement System lifted its stake in shares of Kontoor Brands by 2.4% in the third quarter. Arizona State Retirement System now owns 14,370 shares of the company’s stock worth $631,000 after buying an additional 335 shares in the last quarter. 93.06% of the stock is currently owned by 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.