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

Kontoor Brands, Inc. (NYSE:KTB) has received an average recommendation of “Moderate Buy” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued a report on the stock in the last year is $70.40.

Several research firms recently weighed in on KTB. The Goldman Sachs Group upped their price target on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. UBS Group upped their price target on Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Stifel Nicolaus upped their price target on Kontoor Brands from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, December 14th. Barclays decreased their price target on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. Finally, Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th.

Kontoor Brands Stock Up 1.6 %

NYSE:KTB opened at $58.25 on Tuesday. The firm has a market capitalization of $3.25 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.52 and a beta of 1.13. Kontoor Brands has a 1-year low of $37.10 and a 1-year high of $64.49. The company has a current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. The business’s fifty day moving average price is $60.23 and its 200 day moving average price is $54.27.

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

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, March 8th were issued a $0.50 dividend. The ex-dividend date was Thursday, March 7th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.43%. Kontoor Brands’s payout ratio is presently 49.26%.

Hedge Funds Weigh In On Kontoor Brands

A number of hedge funds have recently modified their holdings of the stock. Prime Capital Investment Advisors LLC raised its holdings in shares of Kontoor Brands by 1.9% in the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock worth $571,000 after buying an additional 172 shares in the last quarter. Kinloch Capital LLC grew its position in Kontoor Brands by 0.6% during the 3rd quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock worth $1,599,000 after acquiring an additional 209 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Kontoor Brands by 5.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,598 shares of the company’s stock worth $194,000 after acquiring an additional 242 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in Kontoor Brands by 1.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock worth $705,000 after acquiring an additional 250 shares during the last quarter. Finally, Credit Suisse AG grew its position in 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 acquiring an additional 259 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

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.