Kontoor Brands (NYSE:KTB) Price Target Raised to $100.00

Kontoor Brands (NYSE:KTB) had its price objective increased by Wells Fargo & Company from $95.00 to $100.00 in a report issued on Wednesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other equities research analysts also recently issued reports on KTB. Wall Street Zen downgraded shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. BTIG Research lifted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group upped their price target on Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Jefferies Financial Group began coverage on Kontoor Brands in a research note on Wednesday, February 4th. They issued a “hold” rating and a $65.00 price objective for the company. Finally, BNP Paribas Exane set a $50.00 price objective on Kontoor Brands in a report on Tuesday, December 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $91.00.

Kontoor Brands Stock Down 2.8%

Shares of NYSE:KTB opened at $76.57 on Wednesday. The company has a market capitalization of $4.23 billion, a price-to-earnings ratio of 18.91 and a beta of 1.15. Kontoor Brands has a 12-month low of $50.00 and a 12-month high of $87.00. The business has a 50-day moving average price of $64.07 and a 200 day moving average price of $71.87. The company has a current ratio of 1.82, a quick ratio of 0.82 and a debt-to-equity ratio of 2.01.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, March 3rd. The company reported $1.73 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.08. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $975.78 million. Kontoor Brands had a net margin of 7.22% and a return on equity of 62.02%. Kontoor Brands’s revenue for the quarter was up 45.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.38 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. Sell-side analysts expect that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.12 annualized dividend and a dividend yield of 2.8%. Kontoor Brands’s payout ratio is 52.35%.

Institutional Trading of Kontoor Brands

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. raised its stake in shares of Kontoor Brands by 73.0% in the third quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock valued at $25,000 after acquiring an additional 130 shares in the last quarter. Transamerica Financial Advisors LLC increased its holdings in Kontoor Brands by 335.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock worth $25,000 after purchasing an additional 312 shares during the period. Atlantic Union Bankshares Corp purchased a new stake in Kontoor Brands during the 2nd quarter worth about $26,000. Clearstead Advisors LLC raised its position in Kontoor Brands by 2,538.5% in the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after purchasing an additional 330 shares in the last quarter. Finally, Torren Management LLC acquired a new stake in Kontoor Brands in the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

About Kontoor Brands

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.