Analysts Set Kontoor Brands, Inc. (NYSE:KTB) Price Target at $91.50

Kontoor Brands, Inc. (NYSE:KTB) has received a consensus recommendation of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $91.50.

KTB has been the topic of several research analyst reports. Wells Fargo & Company lowered their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Barclays lowered their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. Finally, UBS Group decreased their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 28th.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds have recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new stake in Kontoor Brands during the fourth quarter valued at approximately $29,000. Huntington National Bank raised its position in Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the period. Farther Finance Advisors LLC raised its position in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares during the period. Fortitude Family Office LLC raised its position in 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 purchasing an additional 334 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after purchasing an additional 503 shares during the period. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

NYSE:KTB opened at $63.68 on Friday. The stock has a 50-day simple moving average of $78.25 and a two-hundred day simple moving average of $81.88. Kontoor Brands has a 52-week low of $52.95 and a 52-week high of $96.80. The firm has a market capitalization of $3.52 billion, a PE ratio of 14.34, a P/E/G ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same period in the previous year, the business earned $1.28 earnings per share. The business’s revenue was up 4.4% on a year-over-year basis. Analysts forecast that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were given a $0.52 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.27%. Kontoor Brands’s dividend payout ratio 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.