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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been assigned a consensus recommendation of “Moderate Buy” from the seven research firms that are presently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $78.83.

KTB has been the topic of several research analyst reports. Guggenheim upped their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Barclays increased their price target on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus increased their price target on shares of Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 14th.

Kontoor Brands Stock Up 2.8 %

KTB stock opened at $74.88 on Tuesday. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The company’s 50 day moving average is $70.31 and its 200 day moving average is $66.18. The stock has a market cap of $4.17 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 1.87 and a beta of 1.20. Kontoor Brands has a 1-year low of $39.90 and a 1-year high of $75.32.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.10. The company had revenue of $607.00 million for the quarter, compared to analysts’ expectations of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. Kontoor Brands’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.77 earnings per share. Sell-side analysts predict that Kontoor Brands will post 4.8 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.67%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 50.63%.

Institutional Trading of Kontoor Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in KTB. Quest Partners LLC purchased a new stake in Kontoor Brands in the second quarter worth $27,000. Principal Securities Inc. purchased a new stake in Kontoor Brands in the fourth quarter worth $32,000. Signaturefd LLC lifted its stake in Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after acquiring an additional 324 shares during the period. Headlands Technologies LLC lifted its position in Kontoor Brands by 22.7% during the first quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock valued at $95,000 after buying an additional 293 shares during the period. Finally, Blue Trust Inc. lifted its position in Kontoor Brands by 72.4% during the second quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock valued at $95,000 after buying an additional 660 shares during the period. Hedge funds and other 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.