Kontoor Brands, Inc. (NYSE:KTB) Receives $91.50 Average Target Price from Brokerages

Kontoor Brands, Inc. (NYSE:KTB) has received an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, Marketbeat Ratings reports. One investment 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 updated their coverage on the stock in the last year is $91.50.

A number of analysts recently commented on KTB shares. Wells Fargo & Company dropped their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a report on Thursday, March 13th. UBS Group decreased their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. Finally, Barclays cut their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th.

Institutional Trading of Kontoor Brands

Hedge funds have recently modified their holdings of the business. HHM Wealth Advisors LLC acquired a new stake in shares of Kontoor Brands during the fourth quarter worth approximately $29,000. Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after buying an additional 274 shares in the last quarter. Huntington National Bank boosted its stake in shares of Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after buying an additional 148 shares during the period. Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after acquiring an additional 334 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Kontoor Brands by 229.7% in the fourth 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 last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Up 1.5 %

Shares of KTB stock opened at $63.31 on Friday. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The business’s fifty day moving average is $80.19 and its 200-day moving average is $82.31. The stock has a market cap of $3.50 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23.

Kontoor Brands (NYSE:KTB) last released its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The firm had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same period in the previous year, the company earned $1.28 earnings per share. Kontoor Brands’s revenue was up 4.4% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.29%. Kontoor Brands’s dividend payout ratio is currently 47.60%.

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.