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

Kontoor Brands, Inc. (NYSE:KTB) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $87.50.

Several brokerages recently weighed in on KTB. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the company a “buy” rating in a research note on Tuesday, June 10th. UBS Group lifted their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, May 7th. Wells Fargo & Company lifted their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, May 14th. Stifel Nicolaus cut their price target on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, Barclays lifted their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an “overweight” rating in a research note on Tuesday, May 20th.

Kontoor Brands Stock Performance

NYSE KTB opened at $71.98 on Friday. The stock has a 50-day simple moving average of $67.59 and a two-hundred day simple moving average of $72.06. The firm has a market capitalization of $4.00 billion, a P/E ratio of 17.64, a PEG ratio of 1.73 and a beta of 1.12. Kontoor Brands has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.65 and a current ratio of 2.78.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The company’s revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business posted $1.16 EPS. On average, equities analysts forecast that Kontoor Brands will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Investors of record on Tuesday, June 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.89%. The ex-dividend date of this dividend was Tuesday, June 10th. Kontoor Brands’s payout ratio is 50.98%.

Institutional Investors Weigh In On Kontoor Brands

Institutional investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its holdings in Kontoor Brands by 5.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock worth $59,559,000 after buying an additional 35,932 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Kontoor Brands by 4,248.1% in the 1st quarter. GAMMA Investing LLC now owns 38,350 shares of the company’s stock worth $2,459,000 after buying an additional 37,468 shares during the last quarter. Dana Investment Advisors Inc. acquired a new stake in Kontoor Brands in the 4th quarter worth about $654,000. Ensign Peak Advisors Inc boosted its holdings in Kontoor Brands by 33.1% in the 4th quarter. Ensign Peak Advisors Inc now owns 30,735 shares of the company’s stock worth $2,625,000 after buying an additional 7,640 shares during the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Kontoor Brands in the 4th quarter worth about $440,000. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.