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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have received an average recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $78.83.

Several analysts have recently commented on KTB shares. Stifel Nicolaus increased their price objective on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Barclays increased their price target on Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Guggenheim lifted their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 2nd.

Institutional Investors Weigh In On Kontoor Brands

A number of hedge funds have recently made changes to their positions in KTB. O Shaughnessy Asset Management LLC increased its holdings in Kontoor Brands by 44.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock worth $1,465,000 after buying an additional 7,466 shares during the last quarter. Magnetar Financial LLC purchased a new stake in shares of Kontoor Brands during the 1st quarter worth approximately $1,508,000. Capstone Investment Advisors LLC bought a new stake in shares of Kontoor Brands in the 1st quarter worth approximately $2,013,000. Nomura Holdings Inc. lifted its stake in Kontoor Brands by 38.5% in the fourth 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. Finally, American Century Companies Inc. grew its holdings in Kontoor Brands by 48.7% during the second quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock valued at $2,387,000 after purchasing an additional 11,810 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Price Performance

Shares of KTB opened at $80.06 on Friday. The business’s fifty day moving average is $73.95 and its 200 day moving average is $68.17. Kontoor Brands has a 12-month low of $39.90 and a 12-month high of $83.50. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The stock has a market cap of $4.47 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.02 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data 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. The firm had revenue of $607.00 million for the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. Sell-side analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.50%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

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.