UBS Group Raises Kontoor Brands (NYSE:KTB) Price Target to $103.00

Kontoor Brands (NYSE:KTB) had its price objective boosted by UBS Group from $90.00 to $103.00 in a report published on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other research analysts also recently weighed in on the company. Stifel Nicolaus upped their target price on Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Guggenheim raised their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Finally, Barclays boosted their price target on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus target price of $83.33.

Kontoor Brands Price Performance

Shares of KTB stock opened at $83.73 on Friday. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The firm has a market cap of $4.67 billion, a P/E ratio of 21.20, a P/E/G ratio of 2.08 and a beta of 1.20. The business’s 50 day moving average price is $76.28 and its 200-day moving average price is $69.90. Kontoor Brands has a fifty-two week low of $39.90 and a fifty-two week high of $84.21.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business had revenue of $607.00 million during the quarter, compared to analyst estimates of $592.97 million. During the same period in the prior year, the business earned $0.77 EPS. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, equities research analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.39%. The ex-dividend date was Tuesday, September 10th. Kontoor Brands’s payout ratio is 50.63%.

Hedge Funds Weigh In On Kontoor Brands

A number of hedge funds have recently added to or reduced their stakes in KTB. O Shaughnessy Asset Management LLC increased its holdings in shares of Kontoor Brands by 44.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock worth $1,465,000 after purchasing an additional 7,466 shares in the last quarter. Magnetar Financial LLC bought a new stake in Kontoor Brands in the 1st quarter worth about $1,508,000. Capstone Investment Advisors LLC purchased a new position in Kontoor Brands in the 1st quarter worth about $2,013,000. Sei Investments Co. lifted its stake in Kontoor Brands by 78.9% during the 2nd quarter. Sei Investments Co. now owns 52,658 shares of the company’s stock valued at $3,483,000 after acquiring an additional 23,223 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Kontoor Brands by 48.7% during the 2nd quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock valued at $2,387,000 after acquiring an additional 11,810 shares during the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Company Profile

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.