Kontoor Brands (NYSE:KTB) Reaches New 12-Month High at $69.69

Kontoor Brands, Inc. (NYSE:KTB) shares hit a new 52-week high during trading on Thursday . The company traded as high as $69.69 and last traded at $67.85, with a volume of 182278 shares traded. The stock had previously closed at $62.14.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on KTB shares. The Goldman Sachs Group upped their price objective on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays decreased their target price on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. Finally, UBS Group raised their target price on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $70.40.

Kontoor Brands Stock Up 9.3 %

The company has a 50-day simple moving average of $58.98 and a 200-day simple moving average of $56.96. The firm has a market cap of $3.79 billion, a PE ratio of 16.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.11. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.66 and a quick ratio of 1.38.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $669.80 million during the quarter, compared to analysts’ expectations of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. Analysts expect that Kontoor Brands, Inc. will post 4.7 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, June 10th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date is Monday, June 10th. Kontoor Brands’s payout ratio is presently 49.26%.

Institutional Investors Weigh In On Kontoor Brands

A number of large investors have recently made changes to their positions in the stock. Mendel Money Management boosted its holdings in Kontoor Brands by 235.4% in the first quarter. Mendel Money Management now owns 4,580 shares of the company’s stock valued at $276,000 after purchasing an additional 7,963 shares during the last quarter. Hussman Strategic Advisors Inc. purchased a new stake in shares of Kontoor Brands during the 1st quarter worth about $3,163,000. Capstone Investment Advisors LLC purchased a new stake in shares of Kontoor Brands during the 1st quarter worth about $2,013,000. BNP Paribas Financial Markets boosted its stake in shares of Kontoor Brands by 12.4% during the 1st quarter. BNP Paribas Financial Markets now owns 54,637 shares of the company’s stock worth $3,292,000 after acquiring an additional 6,009 shares in the last quarter. Finally, Vest Financial LLC purchased a new stake in shares of Kontoor Brands during the 1st quarter worth about $842,000. 93.06% of the stock is owned by hedge funds and other institutional investors.

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.