Kontoor Brands (NYSE:KTB) Reaches New 1-Year High at $69.86

Kontoor Brands, Inc. (NYSE:KTBGet Free Report) hit a new 52-week high on Monday . The stock traded as high as $69.86 and last traded at $69.78, with a volume of 34493 shares. The stock had previously closed at $68.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. UBS Group raised their target price on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. The Goldman Sachs Group raised their target price on Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Edward Jones downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Finally, Barclays raised their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.20.

View Our Latest Report on KTB

Kontoor Brands Stock Up 1.1 %

The company has a debt-to-equity ratio of 1.96, a quick ratio of 1.42 and a current ratio of 2.70. The firm’s 50-day moving average is $59.81 and its 200 day moving average is $58.05. The firm has a market capitalization of $3.85 billion, a PE ratio of 17.26, a price-to-earnings-growth ratio of 1.80 and a beta of 1.11.

Kontoor Brands (NYSE:KTBGet Free Report) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The business had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. During the same period in the previous year, the firm earned $1.16 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, research analysts forecast that Kontoor Brands, Inc. will post 4.73 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be given a $0.50 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 2.90%. Kontoor Brands’s dividend payout ratio is presently 50.63%.

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently made changes to their positions in the business. International Assets Investment Management LLC acquired a new stake in shares of Kontoor Brands during the 4th quarter worth about $1,364,000. Intact Investment Management Inc. purchased a new stake in Kontoor Brands in the 4th quarter worth approximately $3,396,000. FMR LLC raised its holdings in Kontoor Brands by 3.1% in the 3rd quarter. FMR LLC now owns 3,866,900 shares of the company’s stock valued at $169,796,000 after acquiring an additional 117,815 shares during the last quarter. Vanguard Group Inc. raised its holdings in Kontoor Brands by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock valued at $282,195,000 after acquiring an additional 20,964 shares during the last quarter. Finally, Nomura Holdings Inc. lifted its stake in shares of Kontoor Brands by 34.3% during the 3rd quarter. Nomura Holdings Inc. now owns 47,094 shares of the company’s stock worth $2,068,000 after purchasing an additional 12,018 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

About Kontoor Brands

(Get Free Report)

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.

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