Kontoor Brands, Inc. (NYSE:KTB) Given Consensus Recommendation of “Moderate Buy” by Analysts

Kontoor Brands, Inc. (NYSE:KTB) has been assigned a consensus recommendation of “Moderate Buy” from the six research firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $91.50.

A number of analysts recently issued reports on the stock. Barclays decreased their price objective on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company decreased their target price on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday. Finally, UBS Group lowered their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th.

Kontoor Brands Stock Performance

Shares of KTB opened at $62.21 on Friday. The stock has a 50 day moving average of $80.66 and a 200 day moving average of $82.27. The company has a market capitalization of $3.44 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 2.12 and a beta of 1.23. Kontoor Brands has a 12 month low of $52.95 and a 12 month high of $96.80. 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 data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. The firm had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business’s revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.28 EPS. As a group, sell-side analysts forecast that Kontoor Brands will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.34%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is currently 47.60%.

Institutional Trading of Kontoor Brands

A number of hedge funds and other institutional investors have recently made changes to their positions in KTB. Azzad Asset Management Inc. ADV boosted its stake in Kontoor Brands by 1.6% in the 4th quarter. Azzad Asset Management Inc. ADV now owns 36,798 shares of the company’s stock worth $3,143,000 after purchasing an additional 588 shares during the period. Jefferies Financial Group Inc. lifted its holdings in shares of Kontoor Brands by 2.0% in the fourth quarter. Jefferies Financial Group Inc. now owns 84,679 shares of the company’s stock worth $7,232,000 after buying an additional 1,679 shares in the last quarter. Vise Technologies Inc. boosted its position in shares of Kontoor Brands by 16.5% in the fourth quarter. Vise Technologies Inc. now owns 3,777 shares of the company’s stock valued at $323,000 after acquiring an additional 535 shares during the period. PharVision Advisers LLC purchased a new position in Kontoor Brands during the fourth quarter valued at approximately $249,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Kontoor Brands by 16.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 137,148 shares of the company’s stock valued at $11,714,000 after acquiring an additional 18,923 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

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.