Kontoor Brands (NYSE:KTB) Price Target Lowered to $96.00 at UBS Group

Kontoor Brands (NYSE:KTB) had its price target reduced by UBS Group from $108.00 to $96.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently weighed in on KTB. Guggenheim lifted their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays dropped their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Finally, Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.17.

Kontoor Brands Stock Down 3.3 %

Shares of NYSE:KTB opened at $65.08 on Friday. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 2.12 and a beta of 1.19. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The business has a 50-day moving average price of $85.61 and a 200 day moving average price of $83.00. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to analysts’ expectations of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same period last year, the business earned $1.28 earnings per share. Sell-side analysts expect that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.20%. Kontoor Brands’s payout ratio is 47.60%.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in Kontoor Brands by 1.2% during the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock worth $180,373,000 after buying an additional 26,759 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Kontoor Brands by 2.5% during the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after acquiring an additional 44,287 shares in the last quarter. Geode Capital Management LLC lifted its stake in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock worth $119,827,000 after purchasing an additional 199,601 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Kontoor Brands by 11.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company’s stock valued at $115,755,000 after purchasing an additional 142,956 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Kontoor Brands by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company’s stock valued at $108,252,000 after purchasing an additional 5,207 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

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.