Kontoor Brands, Inc. (NYSE:KTB) Receives $87.50 Average PT from Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been given a consensus rating of “Moderate Buy” by the six brokerages that are presently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $87.50.

Several research analysts have recently issued reports on the company. Stifel Nicolaus lowered their price objective on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the stock a “buy” rating in a research report on Tuesday, June 10th. Barclays upped their price objective on Kontoor Brands from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 20th. Wells Fargo & Company upped their price objective on Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 14th. Finally, UBS Group upped their price objective on Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th.

Institutional Trading of Kontoor Brands

A number of large investors have recently made changes to their positions in KTB. Huntington National Bank lifted its position in Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares during the period. CX Institutional acquired a new stake in Kontoor Brands during the 1st quarter worth approximately $32,000. Versant Capital Management Inc lifted its position in Kontoor Brands by 46.7% during the 1st quarter. Versant Capital Management Inc now owns 650 shares of the company’s stock worth $42,000 after acquiring an additional 207 shares during the period. EverSource Wealth Advisors LLC lifted its position in Kontoor Brands by 229.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock worth $62,000 after acquiring an additional 503 shares during the period. Finally, Quarry LP lifted its position in Kontoor Brands by 161.3% during the 4th quarter. Quarry LP now owns 729 shares of the company’s stock worth $62,000 after acquiring an additional 450 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Trading Down 1.4%

KTB opened at $71.03 on Friday. Kontoor Brands has a 12 month low of $50.00 and a 12 month high of $96.80. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.73 and a beta of 1.12. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65. The business has a fifty day moving average price of $67.79 and a 200 day moving average price of $71.75.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to analysts’ expectations of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. Kontoor Brands’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.16 EPS. Sell-side analysts expect that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, June 10th were given a $0.52 dividend. The ex-dividend date was Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.93%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.98%.

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.