Kontoor Brands, Inc. (NYSE:KTB) Given Consensus Rating of "Moderate Buy" by Analysts

Shares of Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) have been assigned an average rating of "Moderate Buy" from the seven research firms that are currently covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $95.00.

KTB has been the topic of a number of analyst reports. Guggenheim lifted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Barclays increased their price target on Kontoor Brands from $83.00 to $100.00 and gave the company 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. Wells Fargo & Company upped their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Finally, UBS Group lifted their price target on Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a research report on Friday, November 1st.

Kontoor Brands Stock Performance

Shares of KTB traded down $1.65 during trading hours on Monday, reaching $84.64. 523,715 shares of the company traded hands, compared to its average volume of 369,931. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $94.82. The stock has a market capitalization of $4.67 billion, a P/E ratio of 19.06, a P/E/G ratio of 2.30 and a beta of 1.20. 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 business has a fifty day moving average price of $88.66 and a 200-day moving average price of $78.85.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating analysts' consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $670.19 million during the quarter, compared to analysts' expectations of $663.45 million. During the same quarter in the previous year, the company earned $1.22 earnings per share. The firm's revenue for the quarter was up 2.4% on a year-over-year basis. Equities analysts anticipate that Kontoor Brands will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Shareholders of record on Monday, December 9th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.08 dividend on an annualized basis and a yield of 2.46%. This is a positive change from Kontoor Brands's previous quarterly dividend of $0.50. Kontoor Brands's dividend payout ratio is currently 46.85%.

Insider Buying and Selling

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands 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 transaction, the executive vice president now directly owns 18,179 shares of the company's stock, valued at $1,467,227.09. This trade represents a 33.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Scott H. Baxter sold 119,160 shares of the company's stock in a transaction dated 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Trading of Kontoor Brands

Several institutional investors and hedge funds have recently made changes to their positions in KTB. Jennison Associates LLC grew its stake in shares of Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company's stock worth $61,942,000 after buying an additional 320,117 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Kontoor Brands by 351.7% during the 2nd quarter. Millennium Management LLC now owns 347,325 shares of the company's stock worth $22,976,000 after acquiring an additional 270,427 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of Kontoor Brands by 159.0% during the 2nd quarter. Marshall Wace LLP now owns 335,385 shares of the company's stock valued at $22,186,000 after buying an additional 205,885 shares in the last quarter. Pacer Advisors Inc. grew its holdings in Kontoor Brands by 10.9% during the 2nd quarter. Pacer Advisors Inc. now owns 2,043,637 shares of the company's stock valued at $135,187,000 after buying an additional 201,399 shares in the last quarter. Finally, Bwcp LP bought a new position in shares of Kontoor Brands during the 2nd quarter valued at about $11,890,000. Hedge funds and other institutional investors own 93.06% of the company's stock.

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.