Kontoor Brands, Inc. (NYSE:KTB) Receives $40.83 Average PT from Brokerages

Kontoor Brands, Inc. (NYSE:KTBGet Rating) has been given an average rating of “Hold” by the eight analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $40.83.

Several equities analysts have issued reports on the company. William Blair cut Kontoor Brands to a “hold” rating and set a $43.00 target price on the stock. in a research report on Monday, July 25th. Wells Fargo & Company assumed coverage on Kontoor Brands in a research report on Monday, July 11th. They set an “overweight” rating and a $40.00 target price on the stock. Barclays cut Kontoor Brands from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $53.00 to $40.00 in a research report on Wednesday, June 8th. Stifel Nicolaus lowered their price target on Kontoor Brands from $45.00 to $38.00 in a report on Wednesday, July 20th. Finally, Williams Capital restated a “downgrade” rating on shares of Kontoor Brands in a report on Monday, July 25th.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $36.23 on Friday. The stock has a market capitalization of $2.01 billion, a PE ratio of 8.41, a price-to-earnings-growth ratio of 1.02 and a beta of 1.12. Kontoor Brands has a 52-week low of $30.98 and a 52-week high of $61.24. The stock’s 50-day moving average price is $37.70 and its 200 day moving average price is $38.88. The company has a quick ratio of 0.90, a current ratio of 2.06 and a debt-to-equity ratio of 4.39.

Kontoor Brands (NYSE:KTBGet Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.04 by $0.05. Kontoor Brands had a return on equity of 155.26% and a net margin of 9.52%. The firm had revenue of $613.50 million for the quarter, compared to analysts’ expectations of $624.46 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The firm’s revenue for the quarter was up 25.0% on a year-over-year basis. As a group, equities research analysts forecast that Kontoor Brands will post 4.45 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Investors of record on Friday, September 9th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Thursday, September 8th. Kontoor Brands’s payout ratio is currently 42.69%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. NN Investment Partners Holdings N.V. lifted its stake in shares of Kontoor Brands by 27.6% during the 1st quarter. NN Investment Partners Holdings N.V. now owns 1,171 shares of the company’s stock worth $48,000 after purchasing an additional 253 shares during the period. Credit Suisse AG increased its holdings in shares of Kontoor Brands by 0.6% during the 2nd quarter. Credit Suisse AG now owns 47,091 shares of the company’s stock worth $1,571,000 after buying an additional 259 shares during the last quarter. Guyasuta Investment Advisors Inc. increased its holdings in shares of Kontoor Brands by 0.8% during the 1st quarter. Guyasuta Investment Advisors Inc. now owns 35,816 shares of the company’s stock worth $1,481,000 after buying an additional 295 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Kontoor Brands by 0.3% during the 4th quarter. Public Sector Pension Investment Board now owns 96,900 shares of the company’s stock worth $4,966,000 after buying an additional 330 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its holdings in shares of Kontoor Brands by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 6,855 shares of the company’s stock worth $283,000 after buying an additional 355 shares during the last quarter. Hedge funds and other institutional investors own 99.18% of the company’s stock.

About Kontoor Brands

(Get Rating)

Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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