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.
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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 %
Shares of NYSE:KTB opened at $36.23 on Friday. The firm has a fifty day moving average of $37.70 and a two-hundred day moving average of $38.88. The firm has a market capitalization of $2.01 billion, a P/E ratio of 8.41, a price-to-earnings-growth ratio of 1.02 and a beta of 1.12. Kontoor Brands has a 12-month low of $30.98 and a 12-month high of $61.24. The company has a quick ratio of 0.90, a current ratio of 2.06 and a debt-to-equity ratio of 4.39.
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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