Brokerages Set Kontoor Brands, Inc. (NYSE:KTB) Price Target at $77.20

Shares of Kontoor Brands, Inc. (NYSE:KTB) have earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month target price among brokers that have covered the stock in the last year is $77.20.

Several equities analysts have recently issued reports on KTB shares. Stifel Nicolaus lifted their price objective on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Barclays raised their target price on Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group raised their target price on Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd.

Insider Activity

In other news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the transaction, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CAO Susan Denise Sumner sold 4,713 shares of Kontoor Brands stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total value of $341,032.68. Following the sale, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total value of $2,089,242.24. Following the completion of the sale, the chief executive officer now owns 318,188 shares in the company, valued at $22,756,805.76. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Institutional Trading of Kontoor Brands

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Kontoor Brands by 0.3% in the third quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock valued at $282,195,000 after buying an additional 20,964 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Kontoor Brands by 60.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,602,908 shares of the company’s stock valued at $100,054,000 after buying an additional 601,646 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kontoor Brands by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,145,370 shares of the company’s stock valued at $71,496,000 after buying an additional 35,637 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Kontoor Brands by 0.7% in the third quarter. Northern Trust Corp now owns 954,563 shares of the company’s stock valued at $41,915,000 after buying an additional 6,754 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Kontoor Brands by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,824 shares of the company’s stock valued at $38,315,000 after buying an additional 22,141 shares in the last quarter. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $66.15 on Thursday. The business has a 50-day moving average of $68.40 and a 200 day moving average of $62.58. Kontoor Brands has a 12 month low of $37.10 and a 12 month high of $74.90. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 16.75, a price-to-earnings-growth ratio of 1.74 and a beta of 1.14. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.26. The business had revenue of $631.20 million during the quarter, compared to analysts’ expectations of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $1.16 EPS. As a group, sell-side analysts forecast that Kontoor Brands will post 4.73 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, June 10th were issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Monday, June 10th. Kontoor Brands’s payout ratio is currently 50.63%.

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.