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

Kontoor Brands, Inc. (NYSE:KTB) has received a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat 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 price objective among analysts that have updated their coverage on the stock in the last year is $87.50.

Several research analysts recently weighed in on KTB shares. UBS Group upped their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Stifel Nicolaus decreased 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 report on Thursday, April 10th. Barclays upped their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. The Goldman Sachs Group set a $85.00 price objective on shares of Kontoor Brands and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company increased their price target on shares of Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, May 14th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. CX Institutional bought a new position in shares of Kontoor Brands in the first quarter worth approximately $32,000. Huntington National Bank grew its holdings in shares of Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Kontoor Brands by 46.7% in the first quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $42,000 after purchasing an additional 207 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after purchasing an additional 503 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Kontoor Brands by 161.3% in the fourth quarter. Quarry LP now owns 729 shares of the company’s stock worth $62,000 after purchasing an additional 450 shares during the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Trading Down 4.3%

Shares of KTB opened at $67.45 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72. The business’s 50-day moving average price is $68.46 and its 200-day moving average price is $71.49. The stock has a market cap of $3.75 billion, a PE ratio of 16.53, a P/E/G ratio of 1.70 and a beta of 1.12. Kontoor Brands has a twelve month low of $50.00 and a twelve month high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $622.90 million for the quarter, compared to analysts’ expectations of $625.44 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. Kontoor Brands’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 earnings per share. On average, equities analysts forecast that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.08%. The ex-dividend date was Tuesday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.98%.

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.