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

Kontoor Brands (NYSE:KTB) had its price target lowered by Barclays from $100.00 to $93.00 in a research note released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other equities research analysts have also weighed in on KTB. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim raised their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company raised their target price on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, UBS Group cut their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday, February 18th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus target price of $93.17.

Kontoor Brands Price Performance

KTB stock opened at $65.08 on Wednesday. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The firm has a market capitalization of $3.59 billion, a P/E ratio of 14.66, a P/E/G ratio of 2.12 and a beta of 1.19. The business’s 50-day moving average is $85.61 and its two-hundred day moving average is $83.00. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. Analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.20%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC acquired a new position in Kontoor Brands during the third quarter worth approximately $332,000. Janus Henderson Group PLC increased its position in Kontoor Brands by 31.4% during the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after buying an additional 11,337 shares during the period. Fortitude Family Office LLC increased its position in Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after buying an additional 334 shares during the period. International Assets Investment Management LLC increased its position in Kontoor Brands by 8,078.0% during the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after buying an additional 28,273 shares during the period. Finally, Natixis Advisors LLC grew its stake in shares of Kontoor Brands by 6.7% in the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,087 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

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.