Kontoor Brands (NYSE:KTB) PT Raised to $80.00

Kontoor Brands (NYSE:KTB) had its price target lifted by Guggenheim from $75.00 to $80.00 in a research report report published on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Barclays raised their price objective on Kontoor Brands from $76.00 to $83.00 and gave the company an overweight rating in a research note on Friday. Stifel Nicolaus raised their price objective on Kontoor Brands from $77.00 to $80.00 and gave the company a buy rating in a research note on Friday, June 14th. Finally, The Goldman Sachs Group raised their price objective on Kontoor Brands from $68.00 to $77.00 and gave the company a buy rating in a research note on Friday, May 3rd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $78.83.

Kontoor Brands Stock Down 4.1 %

Shares of Kontoor Brands stock opened at $69.12 on Friday. Kontoor Brands has a one year low of $39.90 and a one year high of $74.90. The company has a debt-to-equity ratio of 2.04, a current ratio of 2.74 and a quick ratio of 1.42. The stock’s 50-day moving average is $68.67 and its 200 day moving average is $63.81. The firm has a market cap of $3.86 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.88 and a beta of 1.16.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating the consensus estimate of $0.88 by $0.10. The company had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a return on equity of 72.43% and a net margin of 9.35%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.77 EPS. Equities research analysts anticipate that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.89%. Kontoor Brands’s dividend payout ratio is presently 50.63%.

Insider Activity

In other news, CAO Susan Denise Sumner sold 4,713 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the transaction, the chief accounting officer now owns 15,379 shares in the company, valued at $1,112,824.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the sale, the chief executive officer now directly owns 318,188 shares in the company, valued at $22,756,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Susan Denise Sumner sold 4,713 shares of Kontoor Brands stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the sale, the chief accounting officer now owns 15,379 shares in the company, valued at $1,112,824.44. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Kontoor Brands

A number of hedge funds have recently bought and sold shares of KTB. SG Americas Securities LLC bought a new stake in Kontoor Brands during the fourth quarter worth $286,000. International Assets Investment Management LLC bought a new stake in shares of Kontoor Brands in the fourth quarter valued at $1,364,000. Prime Capital Investment Advisors LLC raised its stake in shares of Kontoor Brands by 1.9% in the fourth quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock valued at $571,000 after buying an additional 172 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Kontoor Brands by 7.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,015 shares of the company’s stock valued at $1,624,000 after buying an additional 1,726 shares during the period. Finally, Bleakley Financial Group LLC bought a new stake in shares of Kontoor Brands in the fourth quarter valued at $438,000. 93.06% of the stock is currently owned by 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.