Kontoor Brands (NYSE:KTB) Sets New 1-Year High – What’s Next?

Kontoor Brands, Inc. (NYSE:KTB) shares reached a new 52-week high on Monday . The stock traded as high as $94.69 and last traded at $94.29, with a volume of 141069 shares changing hands. The stock had previously closed at $91.78.

Analysts Set New Price Targets

A number of research firms have weighed in on KTB. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. UBS Group lifted their price target on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays boosted their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim lifted 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. Finally, Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $95.00.

Kontoor Brands Stock Performance

The firm has a market cap of $5.17 billion, a P/E ratio of 21.18, a PEG ratio of 2.44 and a beta of 1.20. 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 company’s 50-day moving average is $84.60 and its two-hundred day moving average is $75.54.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. As a group, equities analysts predict that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently announced 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. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.22%. Kontoor Brands’s payout ratio is 45.05%.

Insiders Place Their Bets

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total value of $9,961,776.00. Following the sale, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. This trade represents a 26.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the transaction, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. This trade represents a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quest Partners LLC bought a new position in shares of Kontoor Brands during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of Kontoor Brands in the third quarter worth approximately $30,000. Kennebec Savings Bank purchased a new position in Kontoor Brands in the third quarter worth $32,000. Farther Finance Advisors LLC raised its stake in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 274 shares during the period. Finally, Sound Income Strategies LLC purchased a new stake in Kontoor Brands during the 3rd quarter worth about $48,000. Institutional investors 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.