Brokerages Set Kontoor Brands, Inc. (NYSE:KTB) Target Price at $70.40

Kontoor Brands, Inc. (NYSE:KTB) has received a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the stock, Marketbeat reports. One investment 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 analysts that have covered the stock in the last year is $70.40.

Several equities analysts recently commented on the company. Wells Fargo & Company upped their price objective on Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Edward Jones cut shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays decreased their price target on shares of Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday, February 29th. The Goldman Sachs Group upped their price target on shares of Kontoor Brands from $56.00 to $64.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Finally, UBS Group upped their price target on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, February 16th.

Kontoor Brands Trading Up 0.5 %

Shares of NYSE:KTB opened at $54.84 on Friday. The business’s 50 day simple moving average is $59.39 and its 200 day simple moving average is $55.78. The company has a debt-to-equity ratio of 2.05, a current ratio of 2.66 and a quick ratio of 1.38. Kontoor Brands has a 1 year low of $37.10 and a 1 year high of $64.49. The company has a market capitalization of $3.06 billion, a P/E ratio of 13.51, a P/E/G ratio of 1.43 and a beta of 1.13.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). The firm had revenue of $669.80 million during the quarter, compared to the consensus estimate of $720.70 million. Kontoor Brands had a net margin of 8.86% and a return on equity of 76.30%. On average, research analysts anticipate that Kontoor Brands will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 18th. Investors of record on Friday, March 8th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.65%. The ex-dividend date was Thursday, March 7th. Kontoor Brands’s dividend payout ratio is currently 49.26%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of KTB. Victory Capital Management Inc. increased its holdings in Kontoor Brands by 402.9% in the 3rd quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock valued at $43,965,000 after acquiring an additional 802,166 shares during the last quarter. Norges Bank bought a new stake in Kontoor Brands in the 4th quarter valued at $20,837,000. JPMorgan Chase & Co. increased its holdings in Kontoor Brands by 55.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,353,135 shares of the company’s stock valued at $59,416,000 after acquiring an additional 482,274 shares during the last quarter. Morgan Stanley increased its holdings in Kontoor Brands by 66.0% in the 4th quarter. Morgan Stanley now owns 1,205,581 shares of the company’s stock valued at $48,211,000 after acquiring an additional 479,542 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Kontoor Brands by 120.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 518,702 shares of the company’s stock valued at $25,100,000 after acquiring an additional 283,720 shares during the last quarter. Hedge funds and other 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.