Kontoor Brands, Inc. (NYSE:KTB) Receives $95.00 Consensus PT from Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB) have received an average rating of “Moderate Buy” from the seven analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $95.00.

Several research firms have weighed in on KTB. Guggenheim boosted their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays upped their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. UBS Group raised their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $87.35 on Thursday. The business has a 50-day simple moving average of $86.83 and a 200 day simple moving average of $77.03. Kontoor Brands has a 52 week low of $52.95 and a 52 week high of $94.82. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 19.67, a PEG ratio of 2.31 and a beta of 1.20. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. During the same quarter last year, the company posted $1.22 earnings per share. The business’s quarterly revenue was up 2.4% on a year-over-year basis. On average, research analysts forecast that Kontoor Brands will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a $0.52 dividend. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Monday, December 9th. Kontoor Brands’s payout ratio is currently 46.85%.

Insider Buying and Selling

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This represents a 33.21 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the sale, the chief executive officer now directly owns 331,916 shares in the company, valued at $27,748,177.60. This represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently added to or reduced their stakes in the stock. Synovus Financial Corp purchased a new stake in shares of Kontoor Brands during the third quarter worth about $220,000. Sanctuary Advisors LLC purchased a new position in Kontoor Brands in the 3rd quarter worth approximately $332,000. TD Private Client Wealth LLC increased its holdings in shares of Kontoor Brands by 35.7% in the third quarter. TD Private Client Wealth LLC now owns 1,594 shares of the company’s stock valued at $130,000 after purchasing an additional 419 shares during the last quarter. Geode Capital Management LLC lifted its position in Kontoor Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock worth $98,409,000 after buying an additional 15,058 shares in the last quarter. Finally, Barclays PLC boosted its stake in Kontoor Brands by 316.3% during the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock worth $8,303,000 after buying an additional 77,137 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.