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

Kontoor Brands, Inc. (NYSE:KTB) has been assigned an average recommendation of “Moderate Buy” from the seven brokerages that are presently covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $95.00.

Several equities research analysts have recently commented on KTB shares. Wells Fargo & Company raised their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Guggenheim raised their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group raised their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Barclays increased their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st.

Insider Buying and Selling at Kontoor Brands

In other Kontoor Brands news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the sale, the executive vice president now directly owns 18,179 shares in the company, valued at approximately $1,467,227.09. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.50% of the stock is owned by company insiders.

Institutional Trading of Kontoor Brands

Institutional investors and hedge funds have recently bought and sold shares of the company. Quest Partners LLC bought a new stake in Kontoor Brands during the 2nd quarter valued at about $27,000. Northwest Investment Counselors LLC bought a new stake in shares of Kontoor Brands in the third quarter worth approximately $30,000. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands in the third quarter worth approximately $32,000. Farther Finance Advisors LLC grew its stake in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the period. Finally, Sound Income Strategies LLC bought a new stake in shares of Kontoor Brands in the third quarter worth approximately $48,000. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Trading Up 0.7 %

Shares of KTB opened at $84.80 on Wednesday. The stock has a market capitalization of $4.68 billion, a P/E ratio of 19.10, a PEG ratio of 2.11 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm has a fifty day simple moving average of $78.23 and a two-hundred day simple moving average of $71.98. Kontoor Brands has a twelve month low of $47.33 and a twelve month high of $89.76.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same period last year, the company posted $1.22 EPS. The company’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, research analysts anticipate that Kontoor Brands will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.45%. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 9th. Kontoor Brands’s dividend payout ratio (DPR) is presently 45.05%.

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.