Kontoor Brands (NYSE:KTB) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Kontoor Brands (NYSE:KTB) released its quarterly earnings data on Monday. The company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.09, Zacks reports. Kontoor Brands had a net margin of 9.48% and a return on equity of 68.76%.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $81.12 on Monday. Kontoor Brands has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.74, a current ratio of 2.18 and a quick ratio of 0.95. The firm has a market capitalization of $4.51 billion, a P/E ratio of 18.11, a P/E/G ratio of 1.85 and a beta of 1.27. The company’s 50 day moving average price is $80.85 and its two-hundred day moving average price is $71.35.

Kontoor Brands Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, December 18th. Shareholders of record on Monday, December 8th will be given a $0.53 dividend. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.52. This represents a $2.12 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date is Monday, December 8th. Kontoor Brands’s dividend payout ratio (DPR) is 46.43%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on KTB. UBS Group increased their price target on shares of Kontoor Brands from $99.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, October 15th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kontoor Brands in a report on Wednesday, October 8th. BTIG Research began coverage on shares of Kontoor Brands in a report on Tuesday, October 14th. They issued a “buy” rating and a $95.00 price target on the stock. Barclays reissued an “overweight” rating and issued a $91.00 price target (up from $86.00) on shares of Kontoor Brands in a report on Friday, August 8th. Finally, Stifel Nicolaus increased their price target on shares of Kontoor Brands from $72.00 to $73.00 and gave the company a “hold” rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.71.

Institutional Trading of Kontoor Brands

A number of hedge funds have recently added to or reduced their stakes in KTB. EverSource Wealth Advisors LLC boosted its position in Kontoor Brands by 118.6% in the second quarter. EverSource Wealth Advisors LLC now owns 1,469 shares of the company’s stock valued at $97,000 after buying an additional 797 shares in the last quarter. United Services Automobile Association acquired a new stake in Kontoor Brands in the first quarter valued at approximately $205,000. Walleye Capital LLC acquired a new stake in Kontoor Brands in the second quarter valued at approximately $278,000. Orion Porfolio Solutions LLC acquired a new stake in Kontoor Brands in the second quarter valued at approximately $297,000. Finally, Quantinno Capital Management LP bought a new position in shares of Kontoor Brands during the second quarter valued at $341,000. Institutional investors and hedge funds 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.