Wells Fargo & Company Issues Pessimistic Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its price target reduced by Wells Fargo & Company from $100.00 to $90.00 in a research note released on Thursday,Benzinga reports. They currently have an overweight rating on the stock.

Several other research firms have also recently weighed in on KTB. Barclays decreased their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. UBS Group decreased their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.50.

Kontoor Brands Stock Up 4.5 %

Shares of NYSE KTB opened at $62.21 on Thursday. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The company has a market cap of $3.44 billion, a P/E ratio of 14.01, a P/E/G ratio of 2.12 and a beta of 1.23. Kontoor Brands has a 52 week low of $52.95 and a 52 week high of $96.80. The business has a 50-day simple moving average of $80.66 and a two-hundred day simple moving average of $82.33.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s revenue was up 4.4% compared to the same quarter last year. During the same period last year, the business earned $1.28 earnings per share. Research analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 3.34%. Kontoor Brands’s dividend payout ratio (DPR) is presently 47.60%.

Institutional Investors Weigh In On Kontoor Brands

Several hedge funds have recently added to or reduced their stakes in the company. Azzad Asset Management Inc. ADV grew its stake in shares of Kontoor Brands by 1.6% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 36,798 shares of the company’s stock valued at $3,143,000 after buying an additional 588 shares during the last quarter. Jefferies Financial Group Inc. increased its stake in Kontoor Brands by 2.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 84,679 shares of the company’s stock worth $7,232,000 after purchasing an additional 1,679 shares during the period. Vise Technologies Inc. increased its stake in Kontoor Brands by 16.5% in the 4th quarter. Vise Technologies Inc. now owns 3,777 shares of the company’s stock worth $323,000 after purchasing an additional 535 shares during the period. PharVision Advisers LLC bought a new stake in Kontoor Brands in the fourth quarter valued at approximately $249,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Kontoor Brands by 16.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 137,148 shares of the company’s stock valued at $11,714,000 after purchasing an additional 18,923 shares during the period. 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.