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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have earned an average rating of “Moderate Buy” from the six ratings firms that are covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $77.20.

KTB has been the subject of several research reports. The Goldman Sachs Group lifted their price target on shares of Kontoor Brands from $68.00 to $77.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Barclays lifted their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Finally, Stifel Nicolaus increased their price target on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, June 14th.

Kontoor Brands Trading Up 0.2 %

Shares of NYSE KTB opened at $64.94 on Thursday. The stock has a market capitalization of $3.63 billion, a P/E ratio of 16.44, a PEG ratio of 1.75 and a beta of 1.16. The stock’s 50 day moving average price is $68.71 and its two-hundred day moving average price is $62.72. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. Kontoor Brands has a 52-week low of $37.10 and a 52-week high of $74.90.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.26. The business had revenue of $631.20 million for the quarter, compared to analyst estimates of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.16 EPS. On average, analysts anticipate that Kontoor Brands will post 4.73 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Investors of record on Monday, June 10th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.08%. The ex-dividend date of this dividend was Monday, June 10th. Kontoor Brands’s dividend payout ratio is currently 50.63%.

Insiders Place Their Bets

In other news, CEO Scott H. Baxter sold 29,212 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the transaction, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the sale, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Scott H. Baxter sold 29,212 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $71.52, for a total value of $2,089,242.24. Following the transaction, the chief executive officer now directly owns 318,188 shares of the company’s stock, valued at $22,756,805.76. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Institutional Trading of Kontoor Brands

A number of hedge funds and other institutional investors have recently modified their holdings of the company. AMG National Trust Bank grew its position in Kontoor Brands by 18.5% in the fourth quarter. AMG National Trust Bank now owns 421,899 shares of the company’s stock worth $26,335,000 after buying an additional 65,990 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Kontoor Brands in the 4th quarter valued at approximately $1,364,000. Intact Investment Management Inc. acquired a new position in Kontoor Brands in the fourth quarter worth approximately $3,396,000. Nomura Holdings Inc. raised its position in Kontoor Brands by 38.5% during the fourth quarter. Nomura Holdings Inc. now owns 65,215 shares of the company’s stock valued at $4,071,000 after acquiring an additional 18,121 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Kontoor Brands by 0.3% in the third quarter. Vanguard Group Inc. now owns 6,426,658 shares of the company’s stock valued at $282,195,000 after acquiring an additional 20,964 shares during the last quarter. Institutional investors 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.