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

Kontoor Brands, Inc. (NYSE:KTB – Get Rating) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $54.38.

KTB has been the topic of a number of research analyst reports. Williams Trading raised Kontoor Brands from a “hold” rating to a “buy” rating and set a $53.00 price target on the stock in a report on Tuesday, January 31st. Wells Fargo & Company raised their price objective on Kontoor Brands from $48.00 to $59.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 1st. The Goldman Sachs Group raised their price objective on shares of Kontoor Brands from $41.00 to $47.00 and gave the company a “neutral” rating in a research report on Wednesday, March 1st. UBS Group decreased their price target on shares of Kontoor Brands from $66.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday, March 29th. Finally, Stifel Nicolaus raised Kontoor Brands from a “hold” rating to a “buy” rating and lifted their target price for the stock from $44.00 to $63.00 in a report on Tuesday, February 28th.

Kontoor Brands Stock Down 0.7 %

Shares of NYSE KTB opened at $40.23 on Wednesday. The firm’s 50 day simple moving average is $45.52 and its two-hundred day simple moving average is $44.76. Kontoor Brands has a one year low of $30.98 and a one year high of $53.83. The stock has a market capitalization of $2.26 billion, a P/E ratio of 9.91, a PEG ratio of 1.07 and a beta of 1.13. The company has a debt-to-equity ratio of 2.77, a current ratio of 2.59 and a quick ratio of 0.94.

Kontoor Brands (NYSE:KTB – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.14 by $0.02. Kontoor Brands had a net margin of 8.82% and a return on equity of 102.91%. The firm had revenue of $667.10 million for the quarter, compared to analyst estimates of $671.91 million. During the same quarter in the previous year, the firm posted $1.40 EPS. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. As a group, analysts expect that Kontoor Brands will post 4.7 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 20th. Stockholders of record on Friday, June 9th will be given a dividend of $0.48 per share. The ex-dividend date is Thursday, June 8th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.77%. Kontoor Brands’s dividend payout ratio (DPR) is 47.29%.

Insider Buying and Selling at Kontoor Brands

In other news, COO Christopher Waldeck sold 35,684 shares of Kontoor Brands stock in a transaction on Thursday, March 16th. The stock was sold at an average price of $50.99, for a total transaction of $1,819,527.16. Following the transaction, the chief operating officer now owns 92,252 shares in the company, valued at approximately $4,703,929.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Christopher Waldeck sold 35,684 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The shares were sold at an average price of $50.99, for a total transaction of $1,819,527.16. Following the sale, the chief operating officer now directly owns 92,252 shares of the company’s stock, valued at approximately $4,703,929.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Thomas E. Waldron sold 31,237 shares of the company’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $51.93, for a total value of $1,622,137.41. Following the sale, the chief operating officer now owns 101,347 shares in the company, valued at approximately $5,262,949.71. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. TCTC Holdings LLC grew its position in shares of Kontoor Brands by 360.4% in the 4th quarter. TCTC Holdings LLC now owns 686 shares of the company’s stock valued at $27,000 after buying an additional 537 shares during the last quarter. GPS Wealth Strategies Group LLC purchased a new position in shares of Kontoor Brands in the 1st quarter valued at $32,000. CWM LLC grew its position in shares of Kontoor Brands by 34.6% in the 4th quarter. CWM LLC now owns 867 shares of the company’s stock valued at $35,000 after buying an additional 223 shares during the last quarter. Quarry LP purchased a new position in shares of Kontoor Brands in the 1st quarter valued at $52,000. Finally, Ronald Blue Trust Inc. grew its position in shares of Kontoor Brands by 99.4% in the 1st quarter. Ronald Blue Trust Inc. now owns 1,426 shares of the company’s stock valued at $57,000 after buying an additional 711 shares during the last quarter.

About Kontoor Brands

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Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.