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

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

Several equities analysts have recently weighed in on the company. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Wells Fargo & Company lifted their price target on Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a research note on Friday, December 22nd. The Goldman Sachs Group lifted their price target on Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. UBS Group lifted 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. Finally, Barclays dropped 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.

Institutional Investors Weigh In On Kontoor Brands

Several hedge funds and other institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in Kontoor Brands in the 4th quarter worth $25,000. Principal Securities Inc. purchased a new stake in Kontoor Brands in the 4th quarter worth $32,000. Cary Street Partners Investment Advisory LLC increased its stake in Kontoor Brands by 5,710.0% in 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 in the last quarter. Oakworth Capital Inc. increased its stake in Kontoor Brands by 157.8% in the 4th quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock worth $49,000 after buying an additional 478 shares in the last quarter. Finally, Quarry LP purchased a new stake in Kontoor Brands in the 1st quarter worth $52,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Up 0.5 %

Shares of NYSE:KTB opened at $54.84 on Friday. The business’s 50 day simple moving average is $59.39 and its two-hundred day simple moving average is $55.78. The firm has a market cap of $3.06 billion, a P/E ratio of 13.51, a PEG ratio of 1.43 and a beta of 1.13. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.38 and a current ratio of 2.66. Kontoor Brands has a 52-week low of $37.10 and a 52-week high of $64.49.

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

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 18th. Stockholders of record on Friday, March 8th were issued a dividend of $0.50 per share. The ex-dividend date was Thursday, March 7th. This represents a $2.00 annualized dividend and a dividend yield of 3.65%. Kontoor Brands’s payout ratio is 49.26%.

About Kontoor Brands

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.