According to Zacks, “Kontoor Brands Inc. is an apparel company. It designs, manufactures and distributes products. The company’s brand consists of Wrangler(R), Lee(R) and Rock & Republic(R). Kontoor Brands Inc. is based in Greensboro, United States. “
A number of other research firms have also recently commented on KTB. The Goldman Sachs Group assumed coverage on Kontoor Brands in a research report on Wednesday, July 14th. They set a buy rating and a $69.00 target price on the stock. UBS Group raised their price target on shares of Kontoor Brands from $89.00 to $97.00 and gave the company a buy rating in a research note on Tuesday, May 25th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Buy and a consensus target price of $65.86.
Kontoor Brands (NYSE:KTB) last posted its earnings results on Thursday, August 5th. The company reported $0.40 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.40. Kontoor Brands had a return on equity of 257.55% and a net margin of 8.04%. The firm had revenue of $490.77 million for the quarter, compared to analysts’ expectations of $492.10 million. Sell-side analysts expect that Kontoor Brands will post 4.09 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 20th. Investors of record on Friday, September 10th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Thursday, September 9th. Kontoor Brands’s dividend payout ratio is presently 61.30%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in KTB. Dimensional Fund Advisors LP lifted its stake in Kontoor Brands by 17.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 286,753 shares of the company’s stock worth $11,632,000 after purchasing an additional 42,349 shares in the last quarter. US Bancorp DE lifted its stake in Kontoor Brands by 36.2% in the 1st quarter. US Bancorp DE now owns 5,829 shares of the company’s stock worth $283,000 after purchasing an additional 1,548 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Kontoor Brands by 3.2% in the 1st quarter. Envestnet Asset Management Inc. now owns 111,002 shares of the company’s stock worth $5,387,000 after purchasing an additional 3,399 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Kontoor Brands by 30.4% in the 1st quarter. Alliancebernstein L.P. now owns 3,344,912 shares of the company’s stock worth $162,329,000 after purchasing an additional 779,773 shares in the last quarter. Finally, Rhumbline Advisers lifted its stake in Kontoor Brands by 0.3% in the 1st quarter. Rhumbline Advisers now owns 165,490 shares of the company’s stock worth $8,031,000 after purchasing an additional 416 shares in the last quarter. 91.83% of the stock is currently owned by institutional investors and hedge funds.
About Kontoor Brands
Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.
Recommended Story: What is Cost of Goods Sold (COGS)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Kontoor Brands Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kontoor Brands and related companies with MarketBeat.com's FREE daily email newsletter.