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

Key Points

• Analysts maintain a “Moderate Buy” consensus on Kontoor Brands, with six buy ratings, one strong buy, four holds and one sell. The average 12-month price target is $92.70, with targets including Barclays’ $96 and BTIG Research’s $100.
• Kontoor reported quarterly EPS of $1.06, below the $1.17 consensus estimate, while revenue reached $613.32 million versus expectations of $784.76 million. Analysts expect full-year EPS of approximately $5.22.
• The company declared a quarterly dividend of $0.53 per share, equivalent to an annualized $2.12 payout and a 2.7% yield. Institutional investors own 93.06% of the stock, while insiders hold 1.80%.

Shares of Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twelve brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $92.70.

Several equities research analysts have commented on the company. BTIG Research restated a "buy" rating and issued a $100.00 price objective on shares of Kontoor Brands in a research report on Friday, May 1st. Weiss Ratings lowered shares of Kontoor Brands from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday. Wall Street Zen cut shares of Kontoor Brands from a "strong-buy" rating to a "hold" rating in a research note on Saturday, May 9th. Zacks Research raised shares of Kontoor Brands from a "strong sell" rating to a "hold" rating in a report on Thursday, July 9th. Finally, Barclays raised their price target on shares of Kontoor Brands from $93.00 to $96.00 and gave the company an "overweight" rating in a research report on Monday, May 11th.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $77.19 on Friday. Kontoor Brands has a 52-week low of $56.19 and a 52-week high of $88.96. The company has a quick ratio of 1.10, a current ratio of 1.87 and a debt-to-equity ratio of 1.83. The stock has a market cap of $4.27 billion, a PE ratio of 15.62 and a beta of 0.88. The business has a 50-day simple moving average of $81.00 and a 200-day simple moving average of $72.91.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.11). Kontoor Brands had a return on equity of 60.17% and a net margin of 8.30%.The company had revenue of $613.32 million for the quarter, compared to analyst estimates of $784.76 million. During the same period last year, the business earned $1.20 earnings per share. The firm's revenue was up 45.0% on a year-over-year basis. On average, equities analysts expect that Kontoor Brands will post 5.22 EPS for the current year.

Kontoor Brands Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Tuesday, September 8th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, September 8th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 2.7%. Kontoor Brands's dividend payout ratio (DPR) is 42.91%.

Insider Activity at Kontoor Brands

In related news, EVP Jennifer H. Broyles sold 4,000 shares of Kontoor Brands stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $81.02, for a total value of $324,080.00. Following the completion of the transaction, the executive vice president owned 40,261 shares in the company, valued at $3,261,946.22. The trade was a 9.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is owned by company insiders.

Institutional Trading of Kontoor Brands

Several institutional investors have recently bought and sold shares of KTB. BlackRock Inc. acquired a new position in Kontoor Brands during the second quarter worth $674,664,000. Norges Bank acquired a new stake in shares of Kontoor Brands in the fourth quarter valued at about $36,185,000. Boston Partners purchased a new stake in shares of Kontoor Brands during the third quarter worth about $44,733,000. Bank of New York Mellon Corp purchased a new stake in shares of Kontoor Brands during the second quarter worth about $45,003,000. Finally, JPMorgan Chase & Co. raised its position in shares of Kontoor Brands by 15.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company's stock worth $184,443,000 after purchasing an additional 413,005 shares during the last quarter. 93.06% of the stock is owned by institutional investors and hedge funds.

About Kontoor Brands

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.

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