Kontoor Brands (NYSE:KTB) Hits New 52-Week High at $79.06

Kontoor Brands, Inc. (NYSE:KTB)’s share price hit a new 52-week high on Thursday . The stock traded as high as $79.06 and last traded at $78.39, with a volume of 24774 shares. The stock had previously closed at $77.20.

Analyst Upgrades and Downgrades

Several analysts have weighed in on KTB shares. Stifel Nicolaus upped their price objective on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Barclays increased their price objective on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Guggenheim increased their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.83.

Kontoor Brands Trading Up 1.4 %

The company’s fifty day simple moving average is $71.59 and its two-hundred day simple moving average is $66.79. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share (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 company had revenue of $607.00 million during the quarter, compared to the consensus estimate of $592.97 million. During the same quarter in the prior year, the firm earned $0.77 earnings per share. The firm’s revenue was down 1.5% compared to the same quarter last year. Research analysts forecast that Kontoor Brands, Inc. will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.54%. The ex-dividend date of this dividend was Tuesday, September 10th. Kontoor Brands’s dividend payout ratio is 50.63%.

Institutional Investors Weigh In On Kontoor Brands

Several large investors have recently made changes to their positions in KTB. Quest Partners LLC bought a new position in Kontoor Brands in the second quarter valued at $27,000. Principal Securities Inc. bought a new position in Kontoor Brands in the fourth quarter valued at $32,000. Signaturefd LLC grew its position in Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock valued at $64,000 after purchasing an additional 324 shares in the last quarter. Headlands Technologies LLC grew its position in Kontoor Brands by 22.7% in the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after purchasing an additional 293 shares in the last quarter. Finally, Blue Trust Inc. grew its position in Kontoor Brands by 72.4% in the second quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock valued at $95,000 after purchasing an additional 660 shares in the last quarter. Institutional investors 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.