Kontoor Brands (NYSE:KTB) Price Target Raised to $131.00

Kontoor Brands (NYSE:KTB) had its price objective raised by UBS Group from $118.00 to $131.00 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a buy rating on the stock.

KTB has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of Kontoor Brands in a research report on Wednesday, February 4th. They issued a “hold” rating and a $65.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday. The Goldman Sachs Group raised their price objective on shares of Kontoor Brands from $84.00 to $95.00 and gave the company a “buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Kontoor Brands in a report on Monday, December 29th. Finally, Stifel Nicolaus boosted their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “hold” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $91.00.

Kontoor Brands Trading Down 2.8%

KTB opened at $76.57 on Wednesday. Kontoor Brands has a twelve month low of $50.00 and a twelve month high of $87.00. The company has a quick ratio of 0.82, a current ratio of 1.82 and a debt-to-equity ratio of 2.01. The company has a fifty day moving average of $64.07 and a 200-day moving average of $71.87. The stock has a market cap of $4.23 billion, a PE ratio of 18.91 and a beta of 1.15.

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

Kontoor Brands Announces Dividend

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

Institutional Trading of Kontoor Brands

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada increased its holdings in Kontoor Brands by 29.1% in the 1st quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock worth $6,793,000 after acquiring an additional 23,880 shares during the last quarter. AQR Capital Management LLC raised its stake in Kontoor Brands by 49.3% in the 1st quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock valued at $939,000 after acquiring an additional 4,836 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in Kontoor Brands by 250.8% during the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock valued at $602,000 after purchasing an additional 6,712 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Kontoor Brands by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock valued at $2,102,000 after purchasing an additional 1,432 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Kontoor Brands by 222.5% during the first quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock worth $10,026,000 after purchasing an additional 107,855 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

About Kontoor Brands

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.