Kontoor Brands, Inc. (NYSE:KTB) – Piper Sandler dropped their Q4 2021 EPS estimates for shares of Kontoor Brands in a report released on Thursday, November 4th. Piper Sandler analyst E. Murphy now forecasts that the company will earn $0.78 per share for the quarter, down from their previous forecast of $0.83. Piper Sandler also issued estimates for Kontoor Brands’ Q3 2022 earnings at $1.39 EPS, Q4 2022 earnings at $0.95 EPS, Q1 2023 earnings at $1.78 EPS, Q2 2023 earnings at $1.19 EPS and Q3 2023 earnings at $1.57 EPS. Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Wednesday, November 3rd. The company reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.03 by $0.25. Kontoor Brands had a net margin of 7.93% and a return on equity of 183.88%. The firm had revenue of $652.30 million during the quarter, compared to analysts’ expectations of $615.12 million. During the same period in the previous year, the company earned $1.33 earnings per share. Kontoor Brands’s quarterly revenue was up 11.9% compared to the same quarter last year.
A number of other brokerages have also recently weighed in on KTB. The Goldman Sachs Group initiated coverage on shares of Kontoor Brands in a research report on Wednesday, July 14th. They issued a “buy” rating and a $69.00 price target for the company. Zacks Investment Research raised shares of Kontoor Brands from a “sell” rating to a “hold” rating in a research report on Friday. Finally, Barclays boosted their price target on shares of Kontoor Brands from $86.00 to $87.00 and gave the company an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands has a consensus rating of “Buy” and a consensus price target of $71.00.
Shares of KTB opened at $57.79 on Monday. Kontoor Brands has a 1-year low of $33.07 and a 1-year high of $69.16. The stock has a market cap of $3.33 billion, a PE ratio of 17.51, a price-to-earnings-growth ratio of 1.75 and a beta of 1.27. The company has a debt-to-equity ratio of 4.19, a current ratio of 1.96 and a quick ratio of 1.12. The firm has a fifty day moving average price of $52.64 and a 200 day moving average price of $57.26.
Institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC increased its stake in shares of Kontoor Brands by 802.0% during the first quarter. Lazard Asset Management LLC now owns 920 shares of the company’s stock worth $44,000 after acquiring an additional 818 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Kontoor Brands by 273.6% during the second quarter. O Shaughnessy Asset Management LLC now owns 1,061 shares of the company’s stock worth $60,000 after acquiring an additional 777 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Kontoor Brands by 402.0% during the second quarter. Meeder Asset Management Inc. now owns 1,270 shares of the company’s stock worth $72,000 after acquiring an additional 1,017 shares during the period. Bbva USA acquired a new position in shares of Kontoor Brands during the second quarter worth about $82,000. Finally, Macquarie Group Ltd. increased its stake in shares of Kontoor Brands by 22.9% during the second quarter. Macquarie Group Ltd. now owns 1,486 shares of the company’s stock worth $84,000 after acquiring an additional 277 shares during the period. Institutional investors and hedge funds own 91.57% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Monday, December 20th. Stockholders of record on Friday, December 10th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 3.18%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Thursday, December 9th. Kontoor Brands’s payout ratio is 48.48%.
Kontoor Brands Company Profile
Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.