According to Zacks, “Kontoor Brands Inc. is an apparel company. It designs, manufactures and distributes products. The company’s brand consists of Wrangler(R), Lee(R) and Rock & Republic(R). Kontoor Brands Inc. is based in Greensboro, United States. “
Several other analysts also recently commented on the stock. Bank of America upped their price target on shares of Kontoor Brands from $24.00 to $28.00 and gave the company an underperform rating in a research report on Friday, August 9th. Barclays initiated coverage on shares of Kontoor Brands in a research note on Tuesday, November 12th. They issued an equal weight rating and a $35.00 price objective on the stock. Guggenheim reaffirmed a buy rating on shares of Kontoor Brands in a report on Thursday, August 22nd. ValuEngine lowered Kontoor Brands from a hold rating to a sell rating in a report on Friday, November 1st. Finally, Macquarie assumed coverage on Kontoor Brands in a research note on Monday, October 21st. They set a neutral rating for the company. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. Kontoor Brands currently has a consensus rating of Hold and a consensus price target of $31.81.
Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.95 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.08. The firm had revenue of $638.00 million during the quarter, compared to analysts’ expectations of $646.22 million. Kontoor Brands’s quarterly revenue was down 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.25 EPS. As a group, sell-side analysts anticipate that Kontoor Brands will post 3.77 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Tuesday, December 10th will be given a dividend of $0.56 per share. The ex-dividend date is Monday, December 9th. This represents a $2.24 dividend on an annualized basis and a yield of 5.86%.
Several hedge funds have recently added to or reduced their stakes in KTB. Resources Management Corp CT ADV purchased a new stake in Kontoor Brands during the 3rd quarter worth about $46,000. Keeley Teton Advisors LLC grew its holdings in shares of Kontoor Brands by 12.2% during the third quarter. Keeley Teton Advisors LLC now owns 185,448 shares of the company’s stock worth $6,509,000 after buying an additional 20,109 shares in the last quarter. Metropolitan Life Insurance Co NY grew its holdings in shares of Kontoor Brands by 403.3% during the third quarter. Metropolitan Life Insurance Co NY now owns 14,505 shares of the company’s stock worth $509,000 after buying an additional 11,623 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Kontoor Brands by 1.2% in the third quarter. California State Teachers Retirement System now owns 70,032 shares of the company’s stock valued at $2,458,000 after buying an additional 845 shares during the last quarter. Finally, GW Henssler & Associates Ltd. raised its position in shares of Kontoor Brands by 2.4% in the third quarter. GW Henssler & Associates Ltd. now owns 17,656 shares of the company’s stock valued at $620,000 after buying an additional 409 shares during the last quarter. Institutional investors and hedge funds own 89.58% of the company’s stock.
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