Recent Investment Analysts’ Ratings Updates for Kontoor Brands (KTB)

Kontoor Brands (NYSE: KTB) recently received a number of ratings updates from brokerages and research firms:

• 11/1/2024 – Kontoor Brands had its price target raised by analysts at Barclays PLC from $83.00 to $100.00. They now have an “overweight” rating on the stock.
• 11/1/2024 – Kontoor Brands was downgraded by analysts at Stifel Nicolaus from a “buy” rating to a “hold” rating. They now have a $93.00 price target on the stock, up previously from $89.00.
• 11/1/2024 – Kontoor Brands had its price target raised by analysts at Guggenheim from $80.00 to $100.00. They now have a “buy” rating on the stock.
• 11/1/2024 – Kontoor Brands had its price target raised by analysts at UBS Group AG from $103.00 to $110.00. They now have a “buy” rating on the stock.
• 10/23/2024 – Kontoor Brands had its price target raised by analysts at Wells Fargo & Company from $80.00 to $90.00. They now have an “overweight” rating on the stock.
• 10/18/2024 – Kontoor Brands had its price target raised by analysts at UBS Group AG from $90.00 to $103.00. They now have a “buy” rating on the stock.
• 10/7/2024 – Kontoor Brands had its price target raised by analysts at Stifel Nicolaus from $80.00 to $89.00. They now have a “buy” rating on the stock.

Kontoor Brands Stock Performance

Shares of KTB traded up $0.29 during mid-day trading on Thursday, reaching $87.85. The company’s stock had a trading volume of 496,458 shares, compared to its average volume of 482,738. 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, Inc. has a 1-year low of $52.82 and a 1-year high of $92.48. The business has a 50-day simple moving average of $81.90 and a two-hundred day simple moving average of $74.01. The stock has a market cap of $4.84 billion, a P/E ratio of 19.79, a PEG ratio of 2.35 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million for the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue was up 2.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.22 earnings per share. As a group, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.83 earnings per share for the current fiscal year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be issued a dividend of $0.52 per share. The ex-dividend date is Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.37%. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio (DPR) is currently 45.05%.

Insider Activity

In related news, CEO Scott H. Baxter sold 119,160 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total value of $9,961,776.00. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the transaction, the executive vice president now directly owns 18,179 shares of the company’s stock, valued at approximately $1,467,227.09. This trade represents a 33.21 % decrease in their position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its holdings in shares of Kontoor Brands by 44.3% in the first quarter. O Shaughnessy Asset Management LLC now owns 24,311 shares of the company’s stock worth $1,465,000 after acquiring an additional 7,466 shares during the last quarter. Magnetar Financial LLC bought a new position in Kontoor Brands in the 1st quarter valued at approximately $1,508,000. GAMMA Investing LLC boosted its position in Kontoor Brands by 53.5% in the third quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock valued at $57,000 after buying an additional 244 shares in the last quarter. International Assets Investment Management LLC boosted its position in Kontoor Brands by 8,078.0% in the third quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock valued at $2,341,000 after buying an additional 28,273 shares in the last quarter. Finally, Sei Investments Co. grew its stake in shares of Kontoor Brands by 78.9% during the second quarter. Sei Investments Co. now owns 52,658 shares of the company’s stock worth $3,483,000 after buying an additional 23,223 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

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.