Analysts Set Kontoor Brands, Inc. (NYSE:KTB) Price Target at $88.00

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $87.50.

A number of equities analysts have recently issued reports on KTB shares. Stifel Nicolaus cut their target price on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. Barclays upped 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. UBS Group raised their target price on Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Wednesday, May 14th. Finally, The Goldman Sachs Group began coverage on shares of Kontoor Brands in a report on Tuesday. They issued a "buy" rating and a $85.00 price target for the company.

Institutional Trading of Kontoor Brands

Several large investors have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in shares of Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company's stock worth $119,827,000 after buying an additional 199,601 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Kontoor Brands by 11.8% in the fourth 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 grew its position in shares of Kontoor Brands by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company's stock valued at $108,252,000 after purchasing an additional 5,207 shares during the last quarter. Northern Trust Corp grew its position in shares of Kontoor Brands by 1.0% in the first quarter. Northern Trust Corp now owns 1,134,524 shares of the company's stock valued at $72,757,000 after purchasing an additional 10,847 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in shares of Kontoor Brands by 5.2% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,091,445 shares of the company's stock worth $69,994,000 after purchasing an additional 53,992 shares in the last quarter. Institutional investors and hedge funds own 93.06% of the company's stock.

Kontoor Brands Stock Performance

Shares of NYSE KTB traded up $0.05 during mid-day trading on Tuesday, hitting $68.32. 722,904 shares of the company were exchanged, compared to its average volume of 556,764. The stock has a 50 day simple moving average of $64.14 and a 200-day simple moving average of $75.07. Kontoor Brands has a 1-year low of $50.00 and a 1-year high of $96.80. 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 firm has a market cap of $3.80 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 2.12 and a beta of 1.16.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, topping the consensus estimate of $1.16 by $0.04. The company had revenue of $622.90 million during the quarter, compared to analysts' expectations of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business's revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the business earned $1.16 EPS. On average, sell-side analysts forecast that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be given a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 3.04%. Kontoor Brands's payout ratio is 50.98%.

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.