Kontoor Brands (NYSE:KTB) Hits New 12-Month High – What’s Next?

Kontoor Brands, Inc. (NYSE:KTB) reached a new 52-week high during trading on Monday . The company traded as high as $93.54 and last traded at $93.26, with a volume of 21332 shares changing hands. The stock had previously closed at $91.38.

Analysts Set New Price Targets

A number of brokerages recently commented on KTB. Guggenheim boosted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays upped their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and boosted their target price for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. UBS Group boosted their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Stock Down 1.8 %

The business’s 50-day simple moving average is $83.17 and its 200-day simple moving average is $74.72. The company has a market capitalization of $5.08 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same period last year, the company earned $1.22 earnings per share. Kontoor Brands’s revenue for the quarter was up 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. The ex-dividend date is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 dividend on an annualized basis and a yield of 2.26%. Kontoor Brands’s dividend payout ratio (DPR) is currently 45.05%.

Insider Buying and Selling at Kontoor Brands

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction on Friday, November 1st. The stock was sold at an average price of $80.71, for a total value of $729,537.69. Following the sale, the executive vice president now owns 18,179 shares in the company, valued at $1,467,227.09. The trade was a 33.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total value of $9,961,776.00. Following the completion of the sale, the chief executive officer now owns 331,916 shares in the company, valued at $27,748,177.60. This represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.50% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KTB. Jennison Associates LLC boosted its position in shares of Kontoor Brands by 73.2% during the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after acquiring an additional 320,117 shares in the last quarter. Millennium Management LLC lifted its position in Kontoor Brands by 351.7% in the second quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock valued at $22,976,000 after acquiring an additional 270,427 shares during the last quarter. Marshall Wace LLP boosted its stake in Kontoor Brands by 159.0% in the second quarter. Marshall Wace LLP now owns 335,385 shares of the company’s stock valued at $22,186,000 after acquiring an additional 205,885 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of Kontoor Brands by 10.9% during the second quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock worth $135,187,000 after purchasing an additional 201,399 shares in the last quarter. Finally, Bwcp LP purchased a new position in Kontoor Brands during the 2nd quarter worth approximately $11,890,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

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.