Kontoor Brands, Inc. (NYSE:KTB) Receives $78.83 Average Price Target from Analysts

Kontoor Brands, Inc. (NYSE:KTB) has received an average recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $78.83.

A number of equities research analysts have issued reports on the company. Stifel Nicolaus increased their price target on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Guggenheim increased their target price on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays boosted their price target on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, The Goldman Sachs Group increased their price objective on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, May 3rd.

Insider Activity

In other news, CEO Scott H. Baxter sold 29,212 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the transaction, the chief executive officer now owns 318,188 shares of the company’s stock, valued at approximately $22,756,805.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the completion of the transaction, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at approximately $22,756,805.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Susan Denise Sumner sold 4,713 shares of the stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now directly owns 15,379 shares in the company, valued at $1,112,824.44. The disclosure for this sale can be found here. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Kontoor Brands

Several hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. lifted its position in shares of Kontoor Brands by 10.9% during the second quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company’s stock worth $135,187,000 after purchasing an additional 201,399 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Kontoor Brands by 60.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,602,908 shares of the company’s stock valued at $100,054,000 after buying an additional 601,646 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Kontoor Brands by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock valued at $82,707,000 after buying an additional 60,926 shares during the period. Bank of New York Mellon Corp grew its stake in Kontoor Brands by 1.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 712,579 shares of the company’s stock worth $47,137,000 after acquiring an additional 7,526 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Kontoor Brands by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 613,824 shares of the company’s stock worth $38,315,000 after acquiring an additional 22,141 shares during the period. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB opened at $71.30 on Friday. The business has a 50-day simple moving average of $68.17 and a two-hundred day simple moving average of $64.91. The company has a quick ratio of 1.42, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. Kontoor Brands has a 52 week low of $39.90 and a 52 week high of $74.90. The stock has a market cap of $3.98 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 1.88 and a beta of 1.16.

Kontoor Brands (NYSE:KTB) last released its earnings results on Thursday, August 1st. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. The company had revenue of $607.00 million during the quarter, compared to analyst estimates of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.77 EPS. On average, analysts expect that Kontoor Brands will post 4.8 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Tuesday, September 10th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 10th. This represents a $2.00 dividend on an annualized basis and a yield of 2.81%. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

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.