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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been given a consensus rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $96.33.

A number of brokerages have commented on KTB. Wells Fargo & Company lifted their price target on Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Barclays increased their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. UBS Group reduced their price objective on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Tuesday, February 18th. Guggenheim upped their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Finally, Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the company from $89.00 to $93.00 in a research report on Friday, November 1st.

Kontoor Brands Stock Down 1.9 %

KTB stock opened at $86.29 on Tuesday. Kontoor Brands has a 52 week low of $52.95 and a 52 week high of $96.80. The firm has a 50 day moving average of $87.12 and a 200 day moving average of $83.12. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock has a market capitalization of $4.76 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 46.85%.

Hedge Funds Weigh In On Kontoor Brands

A number of large investors have recently bought and sold shares of the business. Jennison Associates LLC increased its position in shares of Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after buying an additional 320,117 shares in the last quarter. Marshall Wace LLP grew its stake in Kontoor Brands by 97.3% in the 4th quarter. Marshall Wace LLP now owns 579,844 shares of the company’s stock valued at $49,524,000 after acquiring an additional 285,897 shares during the period. Man Group plc increased its holdings in Kontoor Brands by 119.1% in the 4th quarter. Man Group plc now owns 466,065 shares of the company’s stock worth $39,807,000 after acquiring an additional 253,360 shares in the last quarter. Norges Bank purchased a new stake in Kontoor Brands in the 4th quarter worth $17,630,000. Finally, Geode Capital Management LLC raised its position in Kontoor Brands by 16.6% during the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock worth $119,827,000 after acquiring an additional 199,601 shares during the period. Institutional investors and hedge funds 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.