Brokerages Set Kontoor Brands, Inc. (NYSE:KTB) Target Price at $77.20

Kontoor Brands, Inc. (NYSE:KTB) has been given an average rating of “Moderate Buy” by the six ratings firms that are presently covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $77.20.

Several research firms recently commented on KTB. Barclays raised their price objective on shares of Kontoor Brands from $65.00 to $76.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Stifel Nicolaus raised their price objective on shares of Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, May 3rd.

Kontoor Brands Trading Up 0.6 %

Shares of KTB stock opened at $66.15 on Thursday. The company has a 50 day moving average of $68.40 and a 200-day moving average of $62.58. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. Kontoor Brands has a 12-month low of $37.10 and a 12-month high of $74.90. The firm has a market cap of $3.69 billion, a P/E ratio of 16.75, a PEG ratio of 1.74 and a beta of 1.14.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. The company had revenue of $631.20 million during the quarter, compared to the consensus estimate of $607.91 million. Kontoor Brands had a net margin of 8.72% and a return on equity of 71.45%. Kontoor Brands’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period last year, the firm earned $1.16 EPS. Sell-side analysts anticipate that Kontoor Brands will post 4.73 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 20th. Shareholders of record on Monday, June 10th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.02%. The ex-dividend date was Monday, June 10th. Kontoor Brands’s payout ratio is 50.63%.

Insider Buying and Selling at Kontoor Brands

In other news, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the completion of the sale, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at approximately $22,756,805.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Susan Denise Sumner sold 4,713 shares of Kontoor Brands stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now directly owns 15,379 shares of the company’s stock, valued at approximately $1,112,824.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Scott H. Baxter sold 29,212 shares of Kontoor Brands stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the completion of the transaction, the chief executive officer now owns 318,188 shares in the company, valued at approximately $22,756,805.76. The disclosure for this sale can be found here. Insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently added to or reduced their stakes in the business. AMG National Trust Bank raised its position in Kontoor Brands by 18.5% in the 4th quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock worth $26,335,000 after purchasing an additional 65,990 shares during the period. International Assets Investment Management LLC purchased a new position in Kontoor Brands in the 4th quarter worth $1,364,000. Intact Investment Management Inc. purchased a new position in Kontoor Brands in the 4th quarter worth $3,396,000. Nomura Holdings Inc. raised its position in Kontoor Brands by 38.5% in the 4th quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock worth $4,071,000 after purchasing an additional 18,121 shares during the period. Finally, Vanguard Group Inc. raised its position in Kontoor Brands by 0.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock worth $282,195,000 after purchasing an additional 20,964 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.