Kontoor Brands (NYSE:KTB) Price Target Raised to $93.00

Kontoor Brands (NYSE:KTB) had its target price lifted by Barclays from $74.00 to $93.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

KTB has been the topic of several other reports. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. Jefferies Financial Group initiated coverage on Kontoor Brands in a report on Wednesday, February 4th. They issued a “hold” rating and a $65.00 price target for the company. UBS Group upped their price objective on shares of Kontoor Brands from $114.00 to $118.00 and gave the company a “buy” rating in a report on Tuesday, November 4th. Wells Fargo & Company decreased their price objective on shares of Kontoor Brands from $100.00 to $95.00 and set an “overweight” rating for the company in a research report on Thursday, January 22nd. Finally, BTIG Research lifted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday. One research 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 issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.00.

Kontoor Brands Trading Down 2.8%

NYSE:KTB opened at $76.57 on Wednesday. Kontoor Brands has a 52 week low of $50.00 and a 52 week high of $87.00. The firm has a 50 day moving average of $64.07 and a 200 day moving average of $71.87. 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 stock has a market capitalization of $4.23 billion, a price-to-earnings ratio of 18.91 and a beta of 1.15.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.08. Kontoor Brands had a net margin of 7.22% and a return on equity of 62.02%. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $975.78 million. During the same period in the previous year, the company earned $1.38 earnings per share. The business’s revenue for the quarter 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, sell-side analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

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

Institutional Investors Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently modified their holdings of KTB. JPMorgan Chase & Co. increased its holdings in Kontoor Brands by 69.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company’s stock worth $168,428,000 after buying an additional 1,044,921 shares during the period. Norges Bank acquired a new stake in Kontoor Brands during the 2nd quarter valued at approximately $45,762,000. Boston Partners purchased a new stake in shares of Kontoor Brands in the 3rd quarter valued at $44,733,000. Invesco Ltd. boosted its holdings in shares of Kontoor Brands by 54.2% in the 2nd quarter. Invesco Ltd. now owns 1,241,839 shares of the company’s stock valued at $81,924,000 after acquiring an additional 436,246 shares during the last quarter. Finally, Amundi acquired a new stake in shares of Kontoor Brands in the third quarter worth $24,653,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

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.