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

Kontoor Brands, Inc. (NYSE:KTB) has been assigned an average recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $91.50.

A number of brokerages have weighed in on KTB. Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th. UBS Group cut their target price 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, Wells Fargo & Company dropped their price target on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $63.50 on Friday. Kontoor Brands has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The firm has a market capitalization of $3.51 billion, a P/E ratio of 14.30, a P/E/G ratio of 2.12 and a beta of 1.23. The company’s 50 day moving average price is $79.20 and its two-hundred day moving average price is $82.09.

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

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s payout ratio is 47.60%.

Institutional Investors Weigh In On Kontoor Brands

Large investors have recently bought and sold shares of the stock. HHM Wealth Advisors LLC acquired a new position in shares of Kontoor Brands during the fourth quarter valued at about $29,000. Farther Finance Advisors LLC grew its holdings in shares of Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 274 shares during the last quarter. Huntington National Bank grew its holdings in shares of Kontoor Brands by 62.4% during the fourth 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 last quarter. Fortitude Family Office LLC grew its holdings in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after buying an additional 334 shares during the last quarter. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after buying an additional 503 shares during the last quarter. 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.