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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have received an average recommendation of “Moderate Buy” from the seven research firms that are covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $95.00.

A number of equities research analysts recently commented on KTB shares. Wells Fargo & Company increased their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Barclays raised their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group lifted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Guggenheim upped their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st.

Kontoor Brands Stock Down 2.0 %

Shares of NYSE KTB opened at $86.26 on Monday. 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 company has a 50-day moving average price of $88.66 and a 200-day moving average price of $78.85. The stock has a market capitalization of $4.76 billion, a P/E ratio of 19.43, a P/E/G ratio of 2.30 and a beta of 1.20. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $94.82.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 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 2.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.22 EPS. On average, equities research analysts forecast that Kontoor Brands will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were paid a $0.52 dividend. The ex-dividend date was Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.41%. Kontoor Brands’s payout ratio is presently 46.85%.

Insider Transactions at Kontoor Brands

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This trade represents a 33.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the sale, the chief executive officer now directly owns 331,916 shares in the company, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently made changes to their positions in the stock. Jennison Associates LLC increased its holdings in shares of Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock worth $61,942,000 after purchasing an additional 320,117 shares during the period. Millennium Management LLC increased its stake in Kontoor Brands by 351.7% in the 2nd quarter. Millennium Management LLC now owns 347,325 shares of the company’s stock worth $22,976,000 after acquiring an additional 270,427 shares during the last quarter. Marshall Wace LLP raised its holdings in shares of Kontoor Brands by 159.0% in the 2nd quarter. Marshall Wace LLP now owns 335,385 shares of the company’s stock valued at $22,186,000 after acquiring an additional 205,885 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of Kontoor Brands by 10.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock valued at $135,187,000 after acquiring an additional 201,399 shares during the last quarter. Finally, Bwcp LP purchased a new position in shares of Kontoor Brands during the second quarter worth about $11,890,000. 93.06% of the stock is owned by institutional investors.

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.