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

Kontoor Brands (NYSE:KTB) had its price objective upped by BTIG Research from $95.00 to $100.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently issued reports on KTB. Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Barclays set a $74.00 price objective on shares of Kontoor Brands in a report on Tuesday, January 6th. BNP Paribas Exane set a $50.00 price objective on shares of Kontoor Brands in a report on Tuesday, December 9th. UBS Group boosted their target price on shares of Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. Finally, Wells Fargo & Company lowered their target price on shares of Kontoor Brands from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $91.00.

Kontoor Brands Stock Down 2.8%

Shares of NYSE:KTB opened at $76.57 on Wednesday. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.82 and a current ratio of 1.82. Kontoor Brands has a 52-week low of $50.00 and a 52-week high of $87.00. The business’s 50 day simple moving average is $64.07 and its two-hundred day simple moving average is $71.87. The firm has a market cap of $4.23 billion, a P/E ratio of 18.91 and a beta of 1.15.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $1.73 EPS for the quarter, beating the consensus estimate of $1.65 by $0.08. Kontoor Brands had a return on equity of 62.02% and a net margin of 7.22%.The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $975.78 million. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s quarterly revenue was up 45.6% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. As a group, research analysts forecast that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Tuesday, March 10th will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, March 10th. Kontoor Brands’s dividend payout ratio is presently 52.35%.

Hedge Funds Weigh In On Kontoor Brands

Hedge funds have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd bought a new stake in shares of Kontoor Brands in the 4th quarter worth $147,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Kontoor Brands by 23.4% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,136,443 shares of the company’s stock valued at $69,426,000 after purchasing an additional 215,621 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of Kontoor Brands by 2.8% during the fourth quarter. Corient Private Wealth LLC now owns 10,402 shares of the company’s stock valued at $636,000 after purchasing an additional 280 shares in the last quarter. Mercer Global Advisors Inc. ADV purchased a new position in Kontoor Brands during the fourth quarter worth about $216,000. Finally, State of Tennessee Department of Treasury boosted its holdings in Kontoor Brands by 6.2% during the fourth quarter. State of Tennessee Department of Treasury now owns 29,164 shares of the company’s stock worth $1,742,000 after purchasing an additional 1,707 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.