Kontoor Brands, Inc. (NYSE:KTB) Receives $87.50 Average PT from Brokerages

Shares of Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) have been given an average recommendation of "Moderate Buy" by the six research firms that are covering the firm, MarketBeat.com 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 target among brokerages that have issued ratings on the stock in the last year is $87.50.

KTB has been the topic of several recent analyst reports. Wells Fargo & Company raised their price target on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, May 14th. Barclays raised their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a report on Tuesday, May 20th. Stifel Nicolaus lowered their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. UBS Group increased their price objective on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Finally, The Goldman Sachs Group set a $85.00 price objective on Kontoor Brands and gave the company a "buy" rating in a research report on Tuesday, June 10th.

Hedge Funds Weigh In On Kontoor Brands

Several institutional investors have recently modified their holdings of KTB. Geode Capital Management LLC grew its position 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 worth $119,827,000 after acquiring an additional 199,601 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in Kontoor Brands by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company's stock worth $115,755,000 after buying an additional 142,956 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Kontoor Brands by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock worth $108,252,000 after buying an additional 5,207 shares during the period. Northern Trust Corp lifted its holdings in Kontoor Brands by 1.0% in the 1st quarter. Northern Trust Corp now owns 1,134,524 shares of the company's stock worth $72,757,000 after buying an additional 10,847 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its holdings in 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 buying an additional 53,992 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Price Performance

KTB traded up $0.36 during trading on Friday, reaching $71.98. 368,124 shares of the company were exchanged, compared to its average volume of 569,456. The company's 50-day moving average is $67.59 and its two-hundred day moving average is $71.97. The company has a market cap of $4.00 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.73 and a beta of 1.12. 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 has a 12-month low of $50.00 and a 12-month high of $96.80.

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

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Tuesday, June 10th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, June 10th. This represents a $2.08 annualized dividend and a dividend yield of 2.89%. Kontoor Brands's dividend payout ratio (DPR) is presently 50.98%.

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.