Analysts Set Kontoor Brands, Inc. (NYSE:KTB) Target Price at $91.50

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

Several equities analysts have commented on KTB shares. Wells Fargo & Company lowered their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. UBS Group lowered their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 28th. Finally, Barclays cut their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th.

Institutional Trading of Kontoor Brands

Several hedge funds have recently added to or reduced their stakes in the business. Mendel Money Management boosted its holdings in Kontoor Brands by 2.8% in the 4th quarter. Mendel Money Management now owns 4,934 shares of the company’s stock valued at $421,000 after purchasing an additional 135 shares during the period. Janney Montgomery Scott LLC raised its position in shares of Kontoor Brands by 3.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after buying an additional 141 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in shares of Kontoor Brands by 14.1% in the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock valued at $101,000 after buying an additional 145 shares during the period. Huntington National Bank grew its position in Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after buying an additional 148 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Kontoor Brands by 26.0% during the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after buying an additional 182 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Up 1.5 %

Shares of NYSE KTB opened at $63.31 on Friday. The business has a 50 day simple moving average of $80.19 and a 200 day simple moving average of $82.31. Kontoor Brands has a 52 week low of $52.95 and a 52 week high of $96.80. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 14.26, a PEG ratio of 2.12 and a beta of 1.23. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Kontoor Brands (NYSE:KTB) last posted its earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.28 earnings per share. On average, research analysts predict that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.29%. Kontoor Brands’s payout ratio is presently 47.60%.

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.