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

Kontoor Brands, Inc. (NYSE:KTB) has been given an average recommendation of “Moderate Buy” by the six research firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $70.40.

KTB has been the subject of several research analyst reports. Barclays decreased their price target on shares of Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. UBS Group lifted their target price on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Edward Jones downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. The Goldman Sachs Group raised their price target on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Wells Fargo & Company upped their price objective on shares of Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd.

Institutional Investors Weigh In On Kontoor Brands

A number of institutional investors have recently added to or reduced their stakes in KTB. Azzad Asset Management Inc. ADV lifted its position in shares of Kontoor Brands by 3.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 34,834 shares of the company’s stock valued at $2,099,000 after buying an additional 1,078 shares during the last quarter. Mather Group LLC. acquired a new stake in Kontoor Brands in the first quarter valued at approximately $165,000. Nomura Holdings Inc. grew its holdings in Kontoor Brands by 38.5% in the fourth quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock worth $4,071,000 after purchasing an additional 18,121 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Kontoor Brands by 3.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 31,282 shares of the company’s stock worth $1,953,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Optimist Retirement Group LLC purchased a new stake in shares of Kontoor Brands during the 4th quarter valued at $368,000. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $56.45 on Friday. Kontoor Brands has a 52 week low of $37.10 and a 52 week high of $64.49. The company has a market capitalization of $3.15 billion, a PE ratio of 13.90, a price-to-earnings-growth ratio of 1.46 and a beta of 1.13. The stock’s fifty day moving average is $59.15 and its two-hundred day moving average is $55.87. The company has a quick ratio of 1.38, a current ratio of 2.66 and a debt-to-equity ratio of 2.05.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The company had revenue of $669.80 million during the quarter, compared to the consensus estimate of $720.70 million. As a group, analysts expect that Kontoor Brands will post 4.7 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date of this dividend was Thursday, March 7th. Kontoor Brands’s dividend payout ratio (DPR) is currently 49.26%.

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.