Kontoor Brands (NYSE:KTB) Price Target Cut to $108.00 by Analysts at UBS Group

Kontoor Brands (NYSE:KTB) had its price target decreased by UBS Group from $112.00 to $108.00 in a research report released on Tuesday morning,Benzinga reports. UBS Group currently has a buy rating on the stock.

KTB has been the subject of several other reports. Barclays boosted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Guggenheim boosted their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and lifted their target price for the company from $89.00 to $93.00 in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $94.67.

Kontoor Brands Stock Up 2.5 %

KTB stock opened at $85.86 on Tuesday. Kontoor Brands has a 1-year low of $52.95 and a 1-year high of $96.80. The business’s 50 day simple moving average is $87.18 and its 200 day simple moving average is $82.57. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a market capitalization of $4.73 billion, a PE ratio of 19.34, a PEG ratio of 2.08 and a beta of 1.19.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.42%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s payout ratio is 46.85%.

Institutional Investors Weigh In On Kontoor Brands

Several large investors have recently made changes to their positions in KTB. Blue Trust Inc. increased its stake in shares of Kontoor Brands by 41.0% during the 3rd quarter. Blue Trust Inc. now owns 2,215 shares of the company’s stock worth $181,000 after purchasing an additional 644 shares during the last quarter. Everence Capital Management Inc. raised its position in shares of Kontoor Brands by 39.3% in the third quarter. Everence Capital Management Inc. now owns 6,660 shares of the company’s stock valued at $545,000 after purchasing an additional 1,880 shares during the period. Northwest Investment Counselors LLC bought a new stake in Kontoor Brands during the third quarter valued at approximately $30,000. International Assets Investment Management LLC increased its holdings in shares of Kontoor Brands by 8,078.0% in the 3rd 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 last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Kontoor Brands by 0.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 46,432 shares of the company’s stock valued at $3,797,000 after buying an additional 375 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other 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.