Kontoor Brands, Inc. (NYSE:KTB) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of Kontoor Brands, Inc. (NYSE:KTB) have earned an average rating of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $70.40.

A number of brokerages have weighed in on KTB. The Goldman Sachs Group increased their price target on Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Stifel Nicolaus raised their target price on Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Barclays reduced their target price on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday, February 29th. UBS Group raised their price target on shares of Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Edward Jones cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th.

Kontoor Brands Stock Performance

NYSE KTB opened at $58.25 on Tuesday. The company has a market capitalization of $3.25 billion, a price-to-earnings ratio of 14.35, a PEG ratio of 1.52 and a beta of 1.13. Kontoor Brands has a twelve month low of $37.10 and a twelve month high of $64.49. The stock has a fifty day simple moving average of $60.23 and a 200 day simple moving average of $54.27. The company has a quick ratio of 1.38, a current ratio of 2.66 and a debt-to-equity ratio of 2.05.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. The company had revenue of $669.80 million during the quarter, compared to analyst estimates of $720.70 million. Sell-side analysts expect that Kontoor Brands will post 4.7 EPS for the current year.

Kontoor Brands Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 18th. Shareholders of record on Friday, March 8th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $2.00 annualized dividend and a dividend yield of 3.43%. Kontoor Brands’s dividend payout ratio is currently 49.26%.

Hedge Funds Weigh In On Kontoor Brands

Several hedge funds have recently modified their holdings of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Kontoor Brands by 3.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 31,282 shares of the company’s stock worth $1,953,000 after buying an additional 1,179 shares in the last quarter. Optimist Retirement Group LLC bought a new stake in shares of Kontoor Brands in the 4th quarter worth approximately $368,000. Barclays PLC raised its holdings in shares of Kontoor Brands by 46.0% in the 4th quarter. Barclays PLC now owns 100,781 shares of the company’s stock worth $6,291,000 after purchasing an additional 31,770 shares during the period. Voya Investment Management LLC raised its holdings in shares of Kontoor Brands by 1.4% in the 4th quarter. Voya Investment Management LLC now owns 22,495 shares of the company’s stock worth $1,404,000 after purchasing an additional 306 shares during the period. Finally, Weiss Multi Strategy Advisers LLC bought a new stake in shares of Kontoor Brands in the 4th quarter worth approximately $3,290,000. Institutional investors own 93.06% of the company’s stock.

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.