Kontoor Brands, Inc. (NYSE:KTB) Receives $95.00 Consensus PT from Analysts

Kontoor Brands, Inc. (NYSE:KTB) has been given an average recommendation of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $95.00.

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

Kontoor Brands Stock Up 1.3 %

Shares of KTB opened at $87.35 on Thursday. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $94.82. The stock has a market capitalization of $4.82 billion, a PE ratio of 19.67, a P/E/G ratio of 2.31 and a beta of 1.20. The company’s 50-day simple moving average is $86.83 and its 200-day simple moving average is $77.03.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.11. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $670.19 million for the quarter, compared to analysts’ expectations of $663.45 million. During the same period last year, the firm earned $1.22 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Analysts forecast that Kontoor Brands 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 was paid on Thursday, December 19th. Stockholders of record on Monday, December 9th were issued a $0.52 dividend. This is an increase from Kontoor Brands’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 2.38%. The ex-dividend date was Monday, December 9th. Kontoor Brands’s payout ratio is presently 46.85%.

Insider Activity at Kontoor Brands

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of KTB. Northwest Investment Counselors LLC purchased a new stake in shares of Kontoor Brands in the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its position in Kontoor Brands by 242.5% in the third 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. Kennebec Savings Bank purchased a new stake in Kontoor Brands in the 3rd quarter valued at approximately $32,000. Quest Partners LLC acquired a new position in Kontoor Brands during the 2nd quarter worth approximately $27,000. Finally, Sound Income Strategies LLC purchased a new position in shares of Kontoor Brands during the 3rd quarter worth approximately $48,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

About Kontoor Brands

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.