Kontoor Brands’ (KTB) “Buy” Rating Reiterated at BTIG Research

BTIG Research reaffirmed their buy rating on shares of Kontoor Brands (NYSE:KTB) in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has a $95.00 price objective on the stock.

A number of other brokerages have also weighed in on KTB. Wall Street Zen raised shares of Kontoor Brands from a “hold” rating to a “strong-buy” rating in a research note on Saturday, August 9th. Wells Fargo & Company raised their target price on Kontoor Brands from $90.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, September 11th. Baird R W raised Kontoor Brands to a “strong-buy” rating in a research note on Friday, October 17th. UBS Group boosted their price target on Kontoor Brands from $99.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, October 15th. Finally, Barclays raised their price objective on Kontoor Brands from $91.00 to $94.00 and gave the company an “overweight” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and an average price target of $96.00.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $72.32 on Tuesday. The stock has a market capitalization of $4.02 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.75 and a beta of 1.27. The company’s fifty day moving average price is $80.64 and its 200 day moving average price is $71.66. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.95 and a current ratio of 1.91. Kontoor Brands has a 1 year low of $50.00 and a 1 year high of $96.80.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Monday, November 3rd. The company reported $1.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.35 by $0.09. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. The business had revenue of $853.22 million for the quarter, compared to the consensus estimate of $879.10 million. During the same period last year, the firm posted $1.37 earnings per share. The company’s revenue was up 27.3% compared to the same quarter last year. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS. Q4 2025 guidance at 1.640-1.640 EPS. As a group, equities research analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Monday, December 8th will be issued a dividend of $0.53 per share. The ex-dividend date is Monday, December 8th. This represents a $2.12 annualized dividend and a dividend yield of 2.9%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.52. Kontoor Brands’s payout ratio is presently 53.61%.

Institutional Investors Weigh In On Kontoor Brands

Several hedge funds and other institutional investors have recently bought and sold shares of KTB. Wealth Enhancement Advisory Services LLC grew its stake in shares of Kontoor Brands by 14.2% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 4,908 shares of the company’s stock valued at $315,000 after buying an additional 611 shares during the period. Principal Financial Group Inc. raised its position in shares of Kontoor Brands by 2.3% during the 1st quarter. Principal Financial Group Inc. now owns 266,977 shares of the company’s stock valued at $17,121,000 after buying an additional 5,955 shares during the period. Bank of New York Mellon Corp lifted its holdings in Kontoor Brands by 1.8% in the first quarter. Bank of New York Mellon Corp now owns 597,638 shares of the company’s stock valued at $38,327,000 after acquiring an additional 10,748 shares during the last quarter. TD Private Client Wealth LLC grew its position in Kontoor Brands by 12.7% in the first quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company’s stock worth $115,000 after acquiring an additional 203 shares during the period. Finally, Financial Counselors Inc. grew its position in Kontoor Brands by 38.9% in the first quarter. Financial Counselors Inc. now owns 7,145 shares of the company’s stock worth $458,000 after acquiring an additional 2,002 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

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.