Kontoor Brands (NYSE:KTB) Price Target Raised to $100.00 at Wells Fargo & Company

Kontoor Brands (NYSE:KTBFree Report) had its target price boosted by Wells Fargo & Company from $95.00 to $100.00 in a research report released on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on the company. Wall Street Zen cut Kontoor Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Kontoor Brands in a research note on Monday, December 29th. Jefferies Financial Group began coverage on Kontoor Brands in a report on Wednesday, February 4th. They set a “hold” rating and a $65.00 price objective on the stock. Barclays raised their target price on shares of Kontoor Brands from $74.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, BNP Paribas Exane set a $50.00 price target on shares of Kontoor Brands in a research note on Tuesday, December 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and an average target price of $91.00.

View Our Latest Stock Report on KTB

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $78.14 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. The firm has a fifty day moving average price of $63.47 and a 200 day moving average price of $71.78. Kontoor Brands has a fifty-two week low of $50.00 and a fifty-two week high of $87.00. The firm has a market cap of $4.34 billion, a price-to-earnings ratio of 19.29 and a beta of 1.15.

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

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.12 annualized dividend and a dividend yield of 2.7%. Kontoor Brands’s payout ratio is currently 54.64%.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds and other institutional investors have recently made changes to their positions in the company. Harbor Capital Advisors Inc. boosted its stake in shares of Kontoor Brands by 73.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Transamerica Financial Advisors LLC raised its position in Kontoor Brands by 335.5% in the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock worth $25,000 after purchasing an additional 312 shares during the period. Atlantic Union Bankshares Corp bought a new stake in Kontoor Brands in the second quarter worth about $26,000. Clearstead Advisors LLC boosted its position in shares of Kontoor Brands by 2,538.5% during the third quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after buying an additional 330 shares during the period. Finally, Torren Management LLC bought a new position in shares of Kontoor Brands during the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

More Kontoor Brands News

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Kontoor Brands Company Profile

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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.

Further Reading

Analyst Recommendations for Kontoor Brands (NYSE:KTB)

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