Kontoor Brands, Inc. (NYSE:KTB) Given Average Recommendation of “Moderate Buy” by Brokerages

Kontoor Brands, Inc. (NYSE:KTB) has received a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $95.00.

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

Kontoor Brands Trading Down 4.6 %

NYSE KTB opened at $81.65 on Wednesday. Kontoor Brands has a 52 week low of $39.90 and a 52 week high of $89.76. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.43 and a current ratio of 2.50. The stock’s 50 day moving average price is $77.81 and its two-hundred day moving average price is $71.57. The stock has a market capitalization of $4.55 billion, a price-to-earnings ratio of 18.39, a PEG ratio of 2.23 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. The firm’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, analysts anticipate that Kontoor Brands will post 4.8 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is 45.05%.

Hedge Funds Weigh In On Kontoor Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC acquired a new stake in shares of Kontoor Brands during the 2nd quarter worth about $27,000. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands during the third quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the last quarter. Sound Income Strategies LLC bought a new stake in shares of Kontoor Brands during the third quarter worth approximately $48,000. Finally, GAMMA Investing LLC grew its position in shares of Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after purchasing an additional 244 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

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.