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

Kontoor Brands, Inc. (NYSE:KTB) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $75.20.

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

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prime Capital Investment Advisors LLC lifted its holdings in shares of Kontoor Brands by 1.9% during the 4th quarter. Prime Capital Investment Advisors LLC now owns 9,148 shares of the company’s stock worth $571,000 after acquiring an additional 172 shares during the period. Kinloch Capital LLC lifted its stake in Kontoor Brands by 0.6% during the third quarter. Kinloch Capital LLC now owns 36,424 shares of the company’s stock worth $1,599,000 after purchasing an additional 209 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its holdings in shares of Kontoor Brands by 1.6% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 16,053 shares of the company’s stock valued at $705,000 after purchasing an additional 250 shares in the last quarter. Commonwealth Equity Services LLC increased its stake in shares of Kontoor Brands by 2.3% in the 3rd quarter. Commonwealth Equity Services LLC now owns 12,611 shares of the company’s stock valued at $554,000 after purchasing an additional 279 shares during the last quarter. Finally, Swiss National Bank raised its holdings in shares of Kontoor Brands by 0.3% during the 1st quarter. Swiss National Bank now owns 99,814 shares of the company’s stock worth $6,014,000 after buying an additional 300 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB opened at $67.75 on Wednesday. The company has a market cap 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. The firm has a 50-day moving average of $59.25 and a 200-day moving average of $57.62. Kontoor Brands has a one year low of $37.10 and a one year high of $69.69. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42.

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

Kontoor Brands Announces Dividend

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

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.