Brokerages Set Kontoor Brands, Inc. (NYSE:KTB) Price Target at $78.83

Shares of Kontoor Brands, Inc. (NYSE:KTB) have received an average recommendation of “Moderate Buy” from the seven brokerages that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $78.83.

KTB has been the topic of several analyst reports. Stifel Nicolaus boosted their price target on shares of Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a report on Friday, June 14th. Guggenheim increased their price target on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Barclays raised their price target on shares of Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

Hedge Funds Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in Kontoor Brands during the 2nd quarter worth $27,000. Principal Securities Inc. bought a new position in Kontoor Brands in the fourth quarter valued at about $32,000. Signaturefd LLC increased its position in Kontoor Brands by 49.9% in the second quarter. Signaturefd LLC now owns 973 shares of the company’s stock worth $64,000 after purchasing an additional 324 shares during the period. Blue Trust Inc. raised its holdings in Kontoor Brands by 72.4% during the 2nd quarter. Blue Trust Inc. now owns 1,571 shares of the company’s stock worth $95,000 after purchasing an additional 660 shares during the last quarter. Finally, Headlands Technologies LLC grew its position in shares of Kontoor Brands by 22.7% during the 1st quarter. Headlands Technologies LLC now owns 1,584 shares of the company’s stock worth $95,000 after buying an additional 293 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB opened at $72.87 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The firm has a market cap of $4.06 billion, a price-to-earnings ratio of 18.45, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20. Kontoor Brands has a 12 month low of $39.90 and a 12 month high of $75.17. The company’s fifty day moving average is $70.11 and its 200-day moving average is $66.08.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. The firm had revenue of $607.00 million during the quarter, compared to the consensus estimate of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.77 EPS. Equities analysts expect that Kontoor Brands will post 4.8 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Tuesday, September 10th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.74%. The ex-dividend date is Tuesday, September 10th. Kontoor Brands’s payout ratio is 50.63%.

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.