UBS Group Cuts Kontoor Brands (NYSE:KTB) Price Target to $108.00

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

Other analysts have also issued research reports about the stock. Guggenheim raised their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Barclays raised their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their price objective for the stock from $89.00 to $93.00 in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.33.

Kontoor Brands Stock Up 0.5 %

NYSE KTB opened at $89.72 on Tuesday. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The stock has a market cap of $4.95 billion, a PE ratio of 20.21, a PEG ratio of 2.03 and a beta of 1.19. The firm has a 50-day simple moving average of $87.14 and a 200 day simple moving average of $82.78.

Kontoor Brands Announces Dividend

The firm also recently disclosed 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 2.32%. Kontoor Brands’s payout ratio is presently 46.85%.

Hedge Funds Weigh In On Kontoor Brands

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vise Technologies Inc. boosted its position in shares of Kontoor Brands by 16.5% during the fourth quarter. Vise Technologies Inc. now owns 3,777 shares of the company’s stock worth $323,000 after purchasing an additional 535 shares in the last quarter. PharVision Advisers LLC bought a new position in shares of Kontoor Brands during the fourth quarter worth $249,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Kontoor Brands by 16.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 137,148 shares of the company’s stock worth $11,714,000 after purchasing an additional 18,923 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of Kontoor Brands by 161.6% during the fourth quarter. Squarepoint Ops LLC now owns 116,277 shares of the company’s stock worth $9,931,000 after purchasing an additional 71,830 shares in the last quarter. Finally, Two Sigma Advisers LP bought a new position in shares of Kontoor Brands during the fourth quarter worth $401,000. 93.06% of the stock is owned by 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.