Brokerages Set Kontoor Brands, Inc. (NYSE:KTB) Price Target at $94.67

Kontoor Brands, Inc. (NYSE:KTB) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat reports. One 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 brokerages that have issued a report on the stock in the last year is $96.33.

KTB has been the subject of a number of research reports. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the company from $89.00 to $93.00 in a research note on Friday, November 1st. 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. Barclays boosted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company raised their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, UBS Group cut their price objective on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday.

Institutional Investors Weigh In On Kontoor Brands

Several large investors have recently made changes to their positions in KTB. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands in the 4th quarter worth approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC grew its stake 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 buying an additional 274 shares during the last quarter. Kennebec Savings Bank acquired a new stake in Kontoor Brands during the 3rd quarter valued at $32,000. Finally, Huntington National Bank grew its holdings in Kontoor Brands by 62.4% during the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Up 0.5 %

Kontoor Brands stock opened at $89.72 on Tuesday. Kontoor Brands has a 52-week low of $52.95 and a 52-week high of $96.80. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.03 and a beta of 1.19. The firm has a 50-day moving average price of $87.14 and a two-hundred day moving average price of $82.78. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.32%. Kontoor Brands’s payout ratio is 46.85%.

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.