Kontoor Brands, Inc. (NYSE:KTB) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been given a consensus rating of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $95.00.

Several research analysts recently commented on KTB shares. UBS Group increased their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays raised their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Guggenheim upped their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Wells Fargo & Company increased their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd.

Insiders Place Their Bets

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total transaction of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. This trade represents a 33.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Scott H. Baxter sold 119,160 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the transaction, the chief executive officer now owns 331,916 shares in the company, valued at approximately $27,748,177.60. This trade represents a 26.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Institutional Trading of Kontoor Brands

Hedge funds have recently added to or reduced their stakes in the company. Quest Partners LLC bought a new position in Kontoor Brands during the 2nd quarter worth $27,000. Northwest Investment Counselors LLC bought a new position in Kontoor Brands during the third quarter worth about $30,000. Kennebec Savings Bank acquired a new stake in Kontoor Brands in the 3rd quarter worth about $32,000. Farther Finance Advisors LLC boosted its holdings in Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares during the period. Finally, Fortitude Family Office LLC grew its position in shares of Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after purchasing an additional 334 shares in the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Price Performance

Shares of NYSE KTB opened at $86.10 on Monday. The company has a fifty day moving average price of $88.47 and a 200 day moving average price of $79.34. The firm has a market cap of $4.75 billion, a PE ratio of 19.39, a PEG ratio of 2.04 and a beta of 1.20. 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 has a 1-year low of $52.95 and a 1-year high of $94.82.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.22 earnings per share. Research analysts predict that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 19th. Investors of record on Monday, December 9th were paid a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend was Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is 46.85%.

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.