Kontoor Brands, Inc. (NYSE:KTB) Given Consensus Rating of “Hold” by Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB – Get Rating) have received an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. Three investment analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $42.17.

Several research firms recently weighed in on KTB. The Goldman Sachs Group lifted their price target on Kontoor Brands from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, December 12th. Barclays dropped their target price on Kontoor Brands from $40.00 to $37.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th. Finally, Wells Fargo & Company dropped their target price on Kontoor Brands from $48.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, October 19th.

Kontoor Brands Stock Performance

Shares of NYSE KTB opened at $46.29 on Thursday. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of 11.18, a P/E/G ratio of 1.28 and a beta of 1.14. The company has a current ratio of 2.12, a quick ratio of 0.78 and a debt-to-equity ratio of 3.96. Kontoor Brands has a 1-year low of $30.98 and a 1-year high of $51.85. The stock’s 50-day moving average is $42.25 and its 200 day moving average is $38.57.

Kontoor Brands (NYSE:KTB – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.99 by $0.12. The company had revenue of $606.52 million for the quarter, compared to analysts’ expectations of $630.40 million. Kontoor Brands had a return on equity of 143.05% and a net margin of 9.21%. On average, sell-side analysts anticipate that Kontoor Brands will post 4.39 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 19th. Stockholders of record on Friday, December 9th were paid a $0.48 dividend. The ex-dividend date of this dividend was Thursday, December 8th. This represents a $1.92 annualized dividend and a dividend yield of 4.15%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.46. Kontoor Brands’s payout ratio is currently 46.38%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Advisor Group Holdings Inc. increased its position in Kontoor Brands by 7.3% during the first quarter. Advisor Group Holdings Inc. now owns 6,135 shares of the company’s stock valued at $295,000 after acquiring an additional 418 shares during the last quarter. Raymond James & Associates grew its holdings in Kontoor Brands by 8.1% during the first quarter. Raymond James & Associates now owns 24,441 shares of the company’s stock valued at $1,011,000 after purchasing an additional 1,821 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in Kontoor Brands by 4.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 10,700 shares of the company’s stock valued at $442,000 after purchasing an additional 439 shares during the period. Citigroup Inc. grew its holdings in Kontoor Brands by 3.5% during the first quarter. Citigroup Inc. now owns 45,858 shares of the company’s stock valued at $1,895,000 after purchasing an additional 1,561 shares during the period. Finally, Bank of Montreal Can grew its holdings in Kontoor Brands by 2.1% during the first quarter. Bank of Montreal Can now owns 17,999 shares of the company’s stock valued at $771,000 after purchasing an additional 362 shares during the period.

Kontoor Brands Company Profile

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Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.