UBS Group Issues Pessimistic Forecast for Kontoor Brands (NYSE:KTB) Stock Price

Kontoor Brands (NYSE:KTB) had its target price trimmed by UBS Group from $112.00 to $108.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research firms have also recently weighed in on KTB. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Guggenheim increased their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Barclays upped their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $94.67.

Kontoor Brands Price Performance

Shares of KTB stock opened at $85.86 on Tuesday. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $96.80. The business’s fifty day moving average is $87.18 and its 200 day moving average is $82.57. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 2.08 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. Kontoor Brands’s dividend payout ratio is currently 46.85%.

Institutional Trading of Kontoor Brands

A number of large investors have recently modified their holdings of KTB. HHM Wealth Advisors LLC purchased a new stake in shares of Kontoor Brands in the 4th quarter worth $29,000. Northwest Investment Counselors LLC purchased a new position in shares of Kontoor Brands in the third quarter worth $30,000. Farther Finance Advisors LLC lifted its stake in shares of Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after buying an additional 274 shares during the period. Kennebec Savings Bank acquired a new stake in shares of Kontoor Brands during the third quarter worth $32,000. Finally, Huntington National Bank grew its holdings in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the last quarter. 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.