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

Kontoor Brands, Inc. (NYSE:KTB) has been assigned an average rating of “Moderate Buy” from the seven research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $95.00.

KTB has been the topic of several research reports. Barclays upped 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, November 1st. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim upped their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. UBS Group boosted 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. Finally, Wells Fargo & Company increased their price objective 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 0.9 %

Shares of KTB opened at $86.57 on Thursday. 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 has a one year low of $52.95 and a one year high of $94.82. The stock has a 50-day moving average price of $86.92 and a 200 day moving average price of $77.13. The company has a market capitalization of $4.77 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.31 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping 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 company had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same period last year, the business earned $1.22 EPS. The firm’s revenue for the quarter was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Kontoor Brands will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.40%. The ex-dividend date was Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is currently 46.85%.

Insider Buying and Selling

In other news, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction that occurred 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 owns 331,916 shares in the company, valued at $27,748,177.60. The trade was a 26.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction that occurred 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 directly owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This represents a 33.21 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Institutional Trading of Kontoor Brands

Several large investors have recently added to or reduced their stakes in KTB. Quest Partners LLC acquired a new stake in shares of Kontoor Brands during the second quarter worth approximately $27,000. Northwest Investment Counselors LLC bought a new position in Kontoor Brands during the third quarter valued at approximately $30,000. Kennebec Savings Bank acquired a new stake in shares of Kontoor Brands in the 3rd quarter valued at $32,000. Farther Finance Advisors LLC lifted its position in shares of Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after buying an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC bought a new stake in shares of Kontoor Brands during the 3rd quarter worth about $48,000. 93.06% of the stock is owned by institutional investors and hedge funds.

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.