Barclays Cuts Kontoor Brands (NYSE:KTB) Price Target to $69.00

Kontoor Brands (NYSE:KTB) had its target price decreased by Barclays from $93.00 to $69.00 in a research note published on Monday morning, MarketBeat.com reports. Barclays currently has an overweight rating on the stock.

Several other equities analysts have also recently commented on KTB. Stifel Nicolaus decreased their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Wells Fargo & Company lowered their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Finally, UBS Group cut their price target on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. One equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.17.

Kontoor Brands Price Performance

Shares of KTB opened at $60.16 on Monday. The firm has a 50-day simple moving average of $61.45 and a two-hundred day simple moving average of $78.16. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands has a 1-year low of $50.00 and a 1-year high of $96.80. The stock has a market cap of $3.33 billion, a PE ratio of 13.55, a P/E/G ratio of 2.12 and a beta of 0.93.

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

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.46%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands’s payout ratio is 47.60%.

Institutional Investors Weigh In On Kontoor Brands

Several hedge funds and other institutional investors have recently bought and sold shares of KTB. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands in the 4th quarter valued at about $29,000. CX Institutional acquired a new stake in shares of Kontoor Brands in the first quarter valued at approximately $32,000. Huntington National Bank boosted its holdings in shares of Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after acquiring an additional 148 shares during the period. Fortitude Family Office LLC grew its position in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after acquiring an additional 334 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Kontoor Brands by 46.7% in the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock valued at $42,000 after acquiring an additional 207 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.