Brokerages Set Kontoor Brands, Inc. (NYSE:KTB) Target Price at $77.20

Kontoor Brands, Inc. (NYSE:KTB) has been assigned a consensus rating of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $77.20.

A number of analysts have recently weighed in on the company. Stifel Nicolaus increased their price objective on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, June 14th. The Goldman Sachs Group raised their price target on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Finally, Barclays upped their price objective on shares of Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $64.87 on Thursday. The company has a quick ratio of 1.42, a current ratio of 2.70 and a debt-to-equity ratio of 1.96. The stock has a market cap of $3.62 billion, a PE ratio of 16.42, a PEG ratio of 1.75 and a beta of 1.14. The company’s fifty day moving average is $68.55 and its 200 day moving average is $62.66. Kontoor Brands has a 52 week low of $37.10 and a 52 week high of $74.90.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.90 by $0.26. The firm had revenue of $631.20 million for the quarter, compared to the consensus estimate of $607.91 million. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The company’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.16 earnings per share. Research analysts anticipate that Kontoor Brands will post 4.73 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, June 10th were given a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 10th. This represents a $2.00 annualized dividend and a dividend yield of 3.08%. Kontoor Brands’s dividend payout ratio is 50.63%.

Insider Activity at Kontoor Brands

In other Kontoor Brands news, CEO Scott H. Baxter sold 29,212 shares of the company’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the transaction, the chief executive officer now owns 318,188 shares in the company, valued at approximately $22,756,805.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Susan Denise Sumner sold 4,713 shares of the business’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $72.36, for a total transaction of $341,032.68. Following the sale, the chief accounting officer now owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott H. Baxter sold 29,212 shares of the company’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total transaction of $2,089,242.24. Following the completion of the sale, the chief executive officer now owns 318,188 shares in the company, valued at approximately $22,756,805.76. The disclosure for this sale can be found here. 2.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. DekaBank Deutsche Girozentrale purchased a new stake in shares of Kontoor Brands during the first quarter valued at approximately $524,000. Tidal Investments LLC bought a new position in Kontoor Brands in the 1st quarter valued at approximately $527,000. Price T Rowe Associates Inc. MD boosted its stake in Kontoor Brands by 6.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 33,351 shares of the company’s stock valued at $2,010,000 after purchasing an additional 2,069 shares during the last quarter. Magnetar Financial LLC bought a new stake in shares of Kontoor Brands in the 1st quarter worth $1,508,000. Finally, Lazard Asset Management LLC raised its stake in shares of Kontoor Brands by 149.1% in the first quarter. Lazard Asset Management LLC now owns 7,076 shares of the company’s stock worth $426,000 after purchasing an additional 4,235 shares during the last quarter. 93.06% of the stock is currently 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.