Kontoor Brands, Inc. (NYSE:KTB) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the firm, MarketBeat reports. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $88.00.

A number of brokerages have recently issued reports on KTB. Barclays lowered their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. Wells Fargo & Company dropped their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Stifel Nicolaus reduced their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, UBS Group lowered their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 28th.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of Kontoor Brands in the 3rd quarter worth $332,000. Principal Financial Group Inc. lifted its stake in shares of Kontoor Brands by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock valued at $22,294,000 after buying an additional 7,445 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Kontoor Brands by 31.4% during the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock valued at $3,883,000 after buying an additional 11,337 shares during the last quarter. Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Kontoor Brands by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock worth $59,559,000 after acquiring an additional 35,932 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Up 0.3 %

NYSE:KTB opened at $57.34 on Wednesday. Kontoor Brands has a one year low of $50.00 and a one year high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market cap of $3.17 billion, a PE ratio of 12.92, a P/E/G ratio of 2.12 and a beta of 0.93. The firm’s 50 day simple moving average is $68.56 and its 200 day simple moving average is $80.15.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s revenue was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 earnings per share. On average, research analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is currently 47.60%.

About Kontoor Brands

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.