Kontoor Brands, Inc. (NYSE:KTB) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) have received a consensus rating of "Moderate Buy" from the six analysts that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $91.50.

A number of brokerages recently issued reports on KTB. Wells Fargo & Company decreased their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research note on Thursday. Barclays decreased their price objective 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 decreased their price objective on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 28th.

Kontoor Brands Stock Performance

Shares of KTB traded up $2.70 during mid-day trading on Friday, hitting $62.21. 1,056,790 shares of the company's stock were exchanged, compared to its average volume of 502,839. Kontoor Brands has a 52 week low of $52.95 and a 52 week high of $96.80. The stock's 50-day simple moving average is $80.66 and its 200-day simple moving average is $82.27. The firm has a market cap of $3.44 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

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Kontoor Brands (NYSE:KTB - Get Free Report) last announced its 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 analysts' expectations of $698.07 million. During the same period last year, the firm earned $1.28 earnings per share. The business's revenue for the quarter was up 4.4% on a year-over-year basis. On average, equities research analysts expect that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.34%. Kontoor Brands's dividend payout ratio is currently 47.60%.

Institutional Trading of Kontoor Brands

Hedge funds have recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands in the fourth quarter valued at approximately $29,000. Farther Finance Advisors LLC lifted its holdings in shares of Kontoor Brands by 242.5% during the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock worth $32,000 after purchasing an additional 274 shares during the period. Huntington National Bank lifted its holdings in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company's stock worth $33,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after purchasing an additional 334 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Kontoor Brands by 229.7% during the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company's stock worth $62,000 after purchasing an additional 503 shares during the period. Institutional investors and hedge funds own 93.06% of the company's stock.

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.