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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been assigned a consensus rating of “Moderate Buy” from the ten brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $84.6667.

A number of brokerages have issued reports on KTB. BNP Paribas Exane set a $50.00 target price on Kontoor Brands in a report on Tuesday, December 9th. Barclays set a $74.00 price objective on Kontoor Brands in a research note on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday, December 29th. Jefferies Financial Group began coverage on shares of Kontoor Brands in a research report on Wednesday, February 4th. They issued a “hold” rating and a $65.00 price target for the company. Finally, Wells Fargo & Company dropped their price target on shares of Kontoor Brands from $100.00 to $95.00 and set an “overweight” rating for the company in a research note on Thursday, January 22nd.

Hedge Funds Weigh In On Kontoor Brands

A number of hedge funds have recently made changes to their positions in KTB. Harbor Capital Advisors Inc. lifted its position in shares of Kontoor Brands by 73.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock worth $25,000 after purchasing an additional 130 shares during the period. Transamerica Financial Advisors LLC raised its stake in Kontoor Brands by 335.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock worth $25,000 after buying an additional 312 shares during the last quarter. Atlantic Union Bankshares Corp bought a new position in Kontoor Brands during the second quarter worth $26,000. Clearstead Advisors LLC lifted its holdings in Kontoor Brands by 2,538.5% in the third quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after buying an additional 330 shares during the period. Finally, Torren Management LLC bought a new stake in Kontoor Brands during the fourth quarter valued at $27,000. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Up 0.2%

Shares of NYSE:KTB opened at $67.41 on Friday. Kontoor Brands has a 52-week low of $50.00 and a 52-week high of $91.85. The company has a market capitalization of $3.75 billion, a PE ratio of 17.37 and a beta of 1.19. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 1.91. The company has a fifty day moving average of $62.75 and a 200-day moving average of $71.27.

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.12 annualized dividend and a yield of 3.1%. Kontoor Brands’s payout ratio is presently 54.64%.

Kontoor Brands Company Profile

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.