Shares of Kontoor Brands, Inc. (NYSE:KTB – Get Rating) have been given a consensus rating of "Hold" by the eight ratings firms that are presently covering the stock, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $40.83.

KTB has been the subject of a number of research reports. Wells Fargo & Company started coverage on shares of Kontoor Brands in a research note on Monday, July 11th. They set an "overweight" rating and a $40.00 target price for the company. UBS Group reduced their price objective on shares of Kontoor Brands from $78.00 to $50.00 in a research note on Friday, July 15th. The Goldman Sachs Group reduced their price objective on shares of Kontoor Brands from $41.00 to $34.00 and set a "neutral" rating for the company in a research note on Thursday, July 21st. Barclays lowered shares of Kontoor Brands from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $53.00 to $40.00 in a research note on Wednesday, June 8th. Finally, Stifel Nicolaus dropped their target price on shares of Kontoor Brands from $45.00 to $38.00 in a report on Wednesday, July 20th.

Institutional Investors Weigh In On Kontoor Brands

Several large investors have recently bought and sold shares of KTB. Parallel Advisors LLC increased its stake in Kontoor Brands by 552.5% in the first quarter. Parallel Advisors LLC now owns 659 shares of the company's stock valued at $28,000 after purchasing an additional 558 shares in the last quarter. Motco increased its stake in Kontoor Brands by 260.7% in the second quarter. Motco now owns 927 shares of the company's stock valued at $31,000 after purchasing an additional 670 shares in the last quarter. Jones Financial Companies Lllp increased its stake in Kontoor Brands by 81.7% in the first quarter. Jones Financial Companies Lllp now owns 1,161 shares of the company's stock valued at $48,000 after purchasing an additional 522 shares in the last quarter. NN Investment Partners Holdings N.V. increased its stake in Kontoor Brands by 27.6% in the first quarter. NN Investment Partners Holdings N.V. now owns 1,171 shares of the company's stock valued at $48,000 after purchasing an additional 253 shares in the last quarter. Finally, Toth Financial Advisory Corp increased its stake in Kontoor Brands by 1,387.1% in the first quarter. Toth Financial Advisory Corp now owns 2,305 shares of the company's stock valued at $95,000 after purchasing an additional 2,150 shares in the last quarter. Institutional investors own 99.18% of the company's stock.

Kontoor Brands Trading Down 0.3 %

Kontoor Brands (NYSE:KTB – Get Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.04 by $0.05. The company had revenue of $613.50 million during the quarter, compared to analyst estimates of $624.46 million. Kontoor Brands had a net margin of 9.52% and a return on equity of 155.26%. The company's revenue for the quarter was up 25.0% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, equities analysts expect that Kontoor Brands will post 4.45 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Friday, September 9th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 5.08%. The ex-dividend date is Thursday, September 8th. Kontoor Brands's payout ratio is presently 42.69%.

About Kontoor Brands

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Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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