Kontoor Brands, Inc. (NYSE:KTB) Receives $95.00 Consensus Target Price from Brokerages

Shares of Kontoor Brands, Inc. (NYSE:KTB) have earned a consensus rating of “Moderate Buy” from the seven analysts that are presently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $95.00.

KTB has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a 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 report on Friday, November 1st. UBS Group raised their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their price target for the company from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Guggenheim raised their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st.

Kontoor Brands Stock Down 1.4 %

KTB opened at $90.70 on Friday. The company has a 50 day moving average of $83.70 and a 200 day moving average of $74.94. The company has a market cap of $5.00 billion, a PE ratio of 20.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.19. Kontoor Brands has a 12 month low of $52.95 and a 12 month high of $94.41. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating the consensus estimate of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. During the same period last year, the firm earned $1.22 EPS. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. On average, sell-side analysts expect that Kontoor Brands will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.29%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is 46.85%.

Insider Activity

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

Hedge Funds Weigh In On Kontoor Brands

A number of large investors have recently added to or reduced their stakes in the business. Arizona State Retirement System raised its position in Kontoor Brands by 1.1% in the 2nd quarter. Arizona State Retirement System now owns 14,050 shares of the company’s stock worth $929,000 after purchasing an additional 154 shares during the period. SG Americas Securities LLC grew its holdings in Kontoor Brands by 5.0% in the 2nd quarter. SG Americas Securities LLC now owns 3,544 shares of the company’s stock worth $234,000 after acquiring an additional 169 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its holdings in Kontoor Brands by 3.6% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 4,979 shares of the company’s stock worth $329,000 after acquiring an additional 175 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in Kontoor Brands by 0.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 25,000 shares of the company’s stock worth $1,654,000 after acquiring an additional 200 shares during the last quarter. Finally, Hsbc Holdings PLC grew its holdings in Kontoor Brands by 2.2% in the 2nd quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock worth $616,000 after acquiring an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

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.