Kontoor Brands (NYSE:KTB – Get Rating) issued an update on its second quarter 2022 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.250-$1.350 for the period. The company issued revenue guidance of $640 million-$650 million.Kontoor Brands also updated its FY 2022 guidance to $4.650-$4.750 EPS.
Shares of Kontoor Brands stock traded up $2.28 during trading on Tuesday, hitting $42.07. 686,857 shares of the stock were exchanged, compared to its average volume of 445,488. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.13 and a beta of 1.20. The company has a fifty day moving average price of $48.86 and a 200-day moving average price of $52.10. Kontoor Brands has a 1-year low of $39.75 and a 1-year high of $69.16. The company has a current ratio of 2.00, a quick ratio of 1.20 and a debt-to-equity ratio of 5.34.
Kontoor Brands (NYSE:KTB – Get Rating) last released its quarterly earnings data on Tuesday, March 1st. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.09. The company had revenue of $681.00 million for the quarter, compared to analyst estimates of $686.44 million. Kontoor Brands had a net margin of 7.89% and a return on equity of 151.71%. Kontoor Brands’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the previous year, the business earned $1.23 EPS. Equities research analysts forecast that Kontoor Brands will post 4.78 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 18th. Investors of record on Tuesday, March 8th will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Monday, March 7th. Kontoor Brands’s payout ratio is 55.59%.
Separately, Zacks Investment Research raised shares of Kontoor Brands from a sell rating to a hold rating and set a $51.00 target price for the company in a report on Wednesday, March 2nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Buy and an average target price of $74.80.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its holdings in Kontoor Brands by 4.1% in the 4th quarter. BlackRock Inc. now owns 7,728,284 shares of the company’s stock valued at $396,075,000 after purchasing an additional 306,241 shares during the period. Deutsche Bank AG raised its position in shares of Kontoor Brands by 3.0% in the 4th quarter. Deutsche Bank AG now owns 39,379 shares of the company’s stock valued at $2,018,000 after buying an additional 1,130 shares in the last quarter. Qtron Investments LLC acquired a new position in shares of Kontoor Brands in the 4th quarter valued at approximately $444,000. California State Teachers Retirement System raised its position in shares of Kontoor Brands by 2.3% in the 4th quarter. California State Teachers Retirement System now owns 69,602 shares of the company’s stock valued at $3,567,000 after buying an additional 1,534 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Kontoor Brands by 11.8% in the 4th quarter. Advisors Asset Management Inc. now owns 30,364 shares of the company’s stock valued at $1,556,000 after buying an additional 3,198 shares in the last quarter. 98.45% of the stock is owned by hedge funds and other institutional investors.
About Kontoor Brands
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.