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

Kontoor Brands (NYSE:KTB) had its price target raised by Wells Fargo & Company from $95.00 to $100.00 in a research note published on Thursday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other research analysts have also recently issued reports on KTB. UBS Group cut their price target on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a report on Tuesday. Barclays lifted their price target on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Guggenheim lifted their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the company from $89.00 to $93.00 in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Kontoor Brands Stock Up 0.5 %

Shares of NYSE KTB opened at $89.72 on Thursday. The stock has a market cap of $4.95 billion, a PE ratio of 20.21, a PEG ratio of 2.12 and a beta of 1.19. The business has a fifty day moving average of $87.14 and a two-hundred day moving average of $82.78. Kontoor Brands has a 52-week low of $52.95 and a 52-week high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. Kontoor Brands’s payout ratio is 46.85%.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors have recently modified their holdings of the stock. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands in the 4th quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its stake in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after acquiring an additional 274 shares in the last quarter. Kennebec Savings Bank bought a new stake in Kontoor Brands in the 3rd quarter valued at approximately $32,000. Huntington National Bank lifted its stake in Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares in the last quarter. Finally, Fortitude Family Office LLC lifted its stake in Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after acquiring an additional 334 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.