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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the firm, MarketBeat reports. One investment analyst has 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 issued ratings on the stock in the last year is $75.20.

Several brokerages have recently issued reports on KTB. Barclays raised their price objective on Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. The Goldman Sachs Group raised their price target on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. UBS Group upped their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Edward Jones cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th.

Kontoor Brands Stock Up 3.0 %

KTB stock opened at $67.75 on Wednesday. The stock has a market capitalization of $3.78 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 1.74 and a beta of 1.11. Kontoor Brands has a 52 week low of $37.10 and a 52 week high of $69.69. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. The firm has a 50 day moving average of $59.25 and a 200 day moving average of $57.62.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. The firm had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.16 earnings per share. Sell-side analysts forecast that Kontoor Brands will post 4.7 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, June 10th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.95%. Kontoor Brands’s payout ratio is 50.63%.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds have recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new position in Kontoor Brands in the 4th quarter worth about $25,000. Cary Street Partners Investment Advisory LLC raised its stake in shares of Kontoor Brands by 5,710.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock worth $26,000 after buying an additional 571 shares during the period. Principal Securities Inc. purchased a new position in shares of Kontoor Brands during the 4th quarter valued at approximately $32,000. Oakworth Capital Inc. grew its stake in Kontoor Brands by 157.8% in the 4th quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock valued at $49,000 after acquiring an additional 478 shares during the period. Finally, Jones Financial Companies Lllp increased its holdings in Kontoor Brands by 121.4% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock worth $57,000 after acquiring an additional 715 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Company Profile

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.