Kontoor Brands, Inc. (NYSE:KTB) Receives $91.50 Average PT from Brokerages

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) has earned an average recommendation of "Moderate Buy" from the six research firms that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $88.00.

A number of research analysts have recently commented on KTB shares. Stifel Nicolaus lowered their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday. Wells Fargo & Company reduced their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Barclays lowered their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Finally, UBS Group cut their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 28th.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vest Financial LLC raised its holdings in Kontoor Brands by 54.6% in the 1st quarter. Vest Financial LLC now owns 43,670 shares of the company's stock valued at $2,801,000 after acquiring an additional 15,418 shares in the last quarter. Summit Global Investments raised its stake in shares of Kontoor Brands by 48.0% in the first quarter. Summit Global Investments now owns 8,695 shares of the company's stock valued at $558,000 after purchasing an additional 2,819 shares in the last quarter. GAMMA Investing LLC lifted its position in Kontoor Brands by 4,248.1% in the first quarter. GAMMA Investing LLC now owns 38,350 shares of the company's stock worth $2,459,000 after purchasing an additional 37,468 shares during the period. Versant Capital Management Inc boosted its stake in Kontoor Brands by 46.7% during the first quarter. Versant Capital Management Inc now owns 650 shares of the company's stock worth $42,000 after buying an additional 207 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its holdings in Kontoor Brands by 17.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,297 shares of the company's stock valued at $367,000 after buying an additional 651 shares during the period. Institutional investors and hedge funds own 93.06% of the company's stock.

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Kontoor Brands Stock Up 0.3 %

Shares of NYSE KTB traded up $0.15 during trading hours on Wednesday, hitting $57.34. The stock had a trading volume of 449,706 shares, compared to its average volume of 534,757. The firm's 50-day moving average price is $68.56 and its two-hundred day moving average price is $80.15. Kontoor Brands has a 52 week low of $50.00 and a 52 week high of $96.80. The company has a market capitalization of $3.17 billion, a P/E ratio of 12.92, a P/E/G ratio of 2.12 and a beta of 0.93. 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 (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same quarter in the prior year, the business posted $1.28 EPS. Kontoor Brands's quarterly revenue was up 4.4% on a year-over-year basis. Analysts anticipate that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date of this dividend was Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

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.