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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been assigned an average rating of “Moderate Buy” from the seven brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $78.83.

KTB has been the topic of a number of research reports. Stifel Nicolaus upped their price target on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Guggenheim boosted their price objective on Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, Barclays raised their target price on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, August 2nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its stake in shares of Kontoor Brands by 44.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock valued at $1,465,000 after buying an additional 7,466 shares during the period. Magnetar Financial LLC purchased a new position in Kontoor Brands in the first quarter worth approximately $1,508,000. AMG National Trust Bank lifted its stake in Kontoor Brands by 18.5% in the fourth quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock worth $26,335,000 after acquiring an additional 65,990 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in shares of Kontoor Brands in the 1st quarter valued at approximately $2,013,000. Finally, Nomura Holdings Inc. increased its position in shares of Kontoor Brands by 38.5% in the 4th quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock valued at $4,071,000 after purchasing an additional 18,121 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Stock Down 0.3 %

Shares of KTB opened at $72.12 on Tuesday. The company’s 50-day moving average price is $69.68 and its 200 day moving average price is $65.94. Kontoor Brands has a 12-month low of $39.90 and a 12-month high of $75.17. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The firm has a market cap of $4.02 billion, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business had revenue of $607.00 million during the quarter, compared to analysts’ expectations of $592.97 million. During the same period last year, the business earned $0.77 earnings per share. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Kontoor Brands will post 4.8 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, September 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.