Kontoor Brands, Inc. (NYSE:KTB) Receives $95.00 Consensus Price Target from Brokerages

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) has been assigned an average rating of "Moderate Buy" from the seven ratings firms that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $95.00.

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

Insider Buying and Selling at Kontoor Brands

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

Hedge Funds Weigh In On Kontoor Brands

Several hedge funds and other institutional investors have recently added to or reduced their stakes in KTB. Northwest Investment Counselors LLC purchased a new stake in shares of Kontoor Brands during the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC lifted its holdings in shares of Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company's stock valued at $32,000 after buying an additional 274 shares during the period. Kennebec Savings Bank purchased a new position in shares of Kontoor Brands in the 3rd quarter worth $32,000. Quest Partners LLC bought a new position in Kontoor Brands in the second quarter valued at about $27,000. Finally, Sound Income Strategies LLC purchased a new position in Kontoor Brands in the third quarter worth about $48,000. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Trading Up 4.0 %

NYSE KTB traded up $3.53 during trading on Friday, hitting $91.38. 318,620 shares of the company's stock traded hands, compared to its average volume of 511,607. The stock has a fifty day moving average of $82.53 and a two-hundred day moving average of $74.33. Kontoor Brands has a 12-month low of $52.82 and a 12-month high of $92.48. The firm has a market cap of $5.04 billion, a P/E ratio of 20.58, a PEG ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping the consensus estimate of $1.26 by $0.11. The company had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 earnings per share. As a group, sell-side analysts expect that Kontoor Brands will post 4.83 EPS for the current year.

Kontoor Brands Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Monday, December 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.28%. This is a boost from Kontoor Brands's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Monday, December 9th. Kontoor Brands's dividend payout ratio is presently 45.05%.

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.