Kontoor Brands, Inc. (NYSE:KTB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Kontoor Brands, Inc. (NYSE:KTB) has earned a consensus recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $91.50.

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

Institutional Trading of Kontoor Brands

Several large investors have recently modified their holdings of the company. State Street Corp grew its holdings in shares of Kontoor Brands by 1.2% in the third quarter. State Street Corp now owns 2,205,592 shares of the company’s stock worth $180,373,000 after acquiring an additional 26,759 shares during the period. Pacer Advisors Inc. grew its holdings in Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after purchasing an additional 44,287 shares during the period. Geode Capital Management LLC grew its holdings in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock valued at $119,827,000 after purchasing an additional 199,601 shares during the period. Ameriprise Financial Inc. grew its holdings in Kontoor Brands by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company’s stock valued at $115,755,000 after purchasing an additional 142,956 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Kontoor Brands by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company’s stock valued at $108,252,000 after purchasing an additional 5,207 shares during the period. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Up 1.2 %

Shares of NYSE:KTB opened at $63.68 on Friday. The stock has a fifty day simple moving average of $78.25 and a two-hundred day simple moving average of $81.88. The stock has a market capitalization of $3.52 billion, a price-to-earnings ratio of 14.34, a PEG ratio of 2.12 and a beta of 1.23. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 EPS. On average, research analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.27%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s 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.