Kontoor Brands, Inc. (NYSE:KTB) Receives $94.67 Average PT from Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the six ratings firms that are presently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $96.33.

A number of analysts have issued reports on KTB shares. Stifel Nicolaus downgraded Kontoor Brands from a "buy" rating to a "hold" rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company increased their price target on shares of Kontoor Brands from $95.00 to $100.00 and gave the company an "overweight" rating in a research note on Thursday. Guggenheim raised their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a report on Friday, November 1st. UBS Group lowered their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a "buy" rating for the company in a report on Tuesday. Finally, Barclays lifted their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an "overweight" rating in a research note on Friday, November 1st.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently modified their holdings of the business. State Street Corp grew its holdings in Kontoor Brands by 1.2% during the third quarter. State Street Corp now owns 2,205,592 shares of the company's stock worth $180,373,000 after acquiring an additional 26,759 shares during the period. Pacer Advisors Inc. increased its holdings in shares of Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after purchasing an additional 44,287 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Kontoor Brands by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after purchasing an additional 199,601 shares during the period. Ameriprise Financial Inc. boosted its holdings in Kontoor Brands by 11.8% during the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock worth $115,755,000 after buying an additional 142,956 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Kontoor Brands by 0.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock worth $108,252,000 after buying an additional 5,207 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Kontoor Brands Trading Down 0.2 %

Shares of KTB traded down $0.20 during midday trading on Tuesday, reaching $89.07. The company had a trading volume of 449,792 shares, compared to its average volume of 525,985. The firm has a 50 day simple moving average of $87.13 and a 200-day simple moving average of $82.73. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The stock has a market cap of $4.91 billion, a PE ratio of 20.03, a price-to-earnings-growth ratio of 2.03 and a beta of 1.19. Kontoor Brands has a 1-year low of $52.95 and a 1-year high of $96.80.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date is Monday, March 10th. Kontoor Brands's dividend payout ratio is presently 46.85%.

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.