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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $91.00.

Several brokerages have recently issued reports on KTB. Stifel Nicolaus raised their price target on Kontoor Brands from $75.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, March 3rd. Jefferies Financial Group initiated coverage on Kontoor Brands in a research note on Wednesday, February 4th. They issued a “hold” rating and a $65.00 price objective on the stock. BNP Paribas Exane set a $50.00 price objective on Kontoor Brands in a research report on Tuesday, December 9th. Weiss Ratings restated a “hold (c)” rating on shares of Kontoor Brands in a research note on Monday, December 29th. Finally, Barclays raised their target price on Kontoor Brands from $74.00 to $93.00 and gave the company an “overweight” rating in a report on Wednesday, March 4th.

Hedge Funds Weigh In On Kontoor Brands

Several large investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of Kontoor Brands by 31.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 180,422 shares of the company’s stock valued at $14,805,000 after buying an additional 43,378 shares during the period. Maverick Capital Ltd. increased its stake in Kontoor Brands by 82.6% during the second quarter. Maverick Capital Ltd. now owns 52,947 shares of the company’s stock valued at $3,493,000 after acquiring an additional 23,946 shares during the period. New York State Common Retirement Fund increased its stake in Kontoor Brands by 89.5% during the third quarter. New York State Common Retirement Fund now owns 32,739 shares of the company’s stock valued at $2,612,000 after acquiring an additional 15,465 shares during the period. Gabelli Funds LLC acquired a new position in Kontoor Brands in the 2nd quarter valued at approximately $4,922,000. Finally, Skba Capital Management LLC raised its holdings in Kontoor Brands by 14.5% in the 3rd quarter. Skba Capital Management LLC now owns 283,891 shares of the company’s stock valued at $22,646,000 after acquiring an additional 35,980 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Trading Up 0.2%

Shares of KTB stock opened at $69.13 on Monday. Kontoor Brands has a 12 month low of $50.00 and a 12 month high of $87.00. The company has a market cap of $3.82 billion, a PE ratio of 17.07 and a beta of 1.05. The company has a quick ratio of 0.87, a current ratio of 1.82 and a debt-to-equity ratio of 2.01. The business’s 50 day moving average is $67.45 and its two-hundred day moving average is $70.44.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.08. Kontoor Brands had a net margin of 7.22% and a return on equity of 62.02%. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $975.78 million. During the same period in the previous year, the company earned $1.38 earnings per share. Kontoor Brands’s revenue for the quarter was up 45.6% on a year-over-year basis. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. Equities analysts predict that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th were paid a $0.53 dividend. The ex-dividend date was Tuesday, March 10th. This represents a $2.12 annualized dividend and a dividend yield of 3.1%. Kontoor Brands’s dividend payout ratio (DPR) is presently 52.35%.

About Kontoor Brands

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.