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

Shares of Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) have earned a consensus rating of "Moderate Buy" from the six analysts that are covering the firm, MarketBeat reports. One equities research analyst has 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 updated their coverage on the stock in the last year is $87.50.

A number of equities analysts recently issued reports on the company. Stifel Nicolaus decreased their price objective on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Barclays increased their price objective on Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a report on Tuesday, May 20th. The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the stock a "buy" rating in a report on Tuesday, June 10th. UBS Group increased their price objective on Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Wells Fargo & Company increased their price objective on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a report on Wednesday, May 14th.

Kontoor Brands Stock Performance

Shares of NYSE:KTB traded up $0.15 during trading on Friday, hitting $71.04. 670,446 shares of the company traded hands, compared to its average volume of 570,505. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 17.41, a PEG ratio of 1.71 and a beta of 1.12. The business's fifty day moving average is $68.00 and its 200-day moving average is $71.75. Kontoor Brands has a one year low of $50.00 and a one year high of $96.80. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The business's revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the company earned $1.16 earnings per share. As a group, equities analysts predict that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.93%. The ex-dividend date was Tuesday, June 10th. Kontoor Brands's payout ratio is currently 50.98%.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Kontoor Brands by 16.6% during the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock valued at $119,827,000 after purchasing an additional 199,601 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Kontoor Brands by 11.8% during the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock valued at $115,755,000 after purchasing an additional 142,956 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Kontoor Brands by 0.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock valued at $108,252,000 after acquiring an additional 5,207 shares during the last quarter. Northern Trust Corp lifted its position in shares of Kontoor Brands by 1.0% during the 1st quarter. Northern Trust Corp now owns 1,134,524 shares of the company's stock valued at $72,757,000 after acquiring an additional 10,847 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. grew its holdings in shares of Kontoor Brands by 5.2% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,091,445 shares of the company's stock worth $69,994,000 after acquiring an additional 53,992 shares during the last quarter. 93.06% of the stock is owned by institutional investors.

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.