Kontoor Brands (NYSE:KTB) Price Target Raised to $100.00

Kontoor Brands (NYSE:KTB) had its target price raised by Guggenheim from $80.00 to $100.00 in a research note released on Friday, Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other equities analysts also recently weighed in on KTB. Barclays boosted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group boosted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the stock from $89.00 to $93.00 in a research report on Friday. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Trading Up 3.2 %

Shares of KTB stock opened at $84.25 on Friday. Kontoor Brands has a 12-month low of $47.33 and a 12-month high of $89.76. The company has a market capitalization of $4.69 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.23 and a beta of 1.19. The firm has a 50-day moving average price of $78.02 and a 200 day moving average price of $71.78. The company has a quick ratio of 1.43, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same period in the previous year, the firm posted $1.22 earnings per share. The company’s revenue was up 2.4% on a year-over-year basis. Research analysts forecast that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.47%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s payout ratio is currently 45.05%.

Insider Activity at Kontoor Brands

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the transaction, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of KTB. Commonwealth Equity Services LLC boosted its holdings in shares of Kontoor Brands by 4.3% in the first quarter. Commonwealth Equity Services LLC now owns 13,291 shares of the company’s stock valued at $801,000 after buying an additional 546 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of Kontoor Brands by 12.4% in the first quarter. BNP Paribas Financial Markets now owns 54,637 shares of the company’s stock valued at $3,292,000 after buying an additional 6,009 shares during the period. Capstone Investment Advisors LLC acquired a new position in shares of Kontoor Brands in the first quarter valued at approximately $2,013,000. Mendel Money Management boosted its holdings in shares of Kontoor Brands by 235.4% in the first quarter. Mendel Money Management now owns 4,580 shares of the company’s stock valued at $276,000 after buying an additional 7,963 shares during the period. Finally, Texas Permanent School Fund Corp boosted its holdings in shares of Kontoor Brands by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 43,760 shares of the company’s stock valued at $2,637,000 after buying an additional 567 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

About Kontoor Brands

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.