Kontoor Brands, Inc. (NYSE:KTB) Given Average Recommendation of “Moderate Buy” by Brokerages

Kontoor Brands, Inc. (NYSE:KTB) has been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, Marketbeat reports. Two analysts have 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 updated their coverage on the stock in the last year is $95.00.

Several equities analysts have commented on KTB shares. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Guggenheim lifted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. UBS Group boosted their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Barclays raised their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd.

Insider Activity at Kontoor Brands

In other news, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. This represents a 26.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. This trade represents a 33.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Quest Partners LLC acquired a new position in shares of Kontoor Brands during the 2nd quarter worth $27,000. Northwest Investment Counselors LLC acquired a new position in Kontoor Brands during the third quarter worth about $30,000. Kennebec Savings Bank acquired a new stake in shares of Kontoor Brands during the 3rd quarter valued at approximately $32,000. Farther Finance Advisors LLC boosted its stake in shares of Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares in the last quarter. Finally, Sound Income Strategies LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter worth approximately $48,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of KTB opened at $85.70 on Thursday. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.30, a PEG ratio of 2.31 and a beta of 1.20. The firm’s fifty day simple moving average is $86.57 and its 200-day simple moving average is $76.84. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $94.82. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The company had revenue of $670.19 million during the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. Kontoor Brands’s revenue for the quarter was up 2.4% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 EPS. Equities analysts forecast that Kontoor Brands will post 4.83 EPS for the current fiscal year.

Kontoor Brands Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 2.43%. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. Kontoor Brands’s dividend payout ratio is 46.85%.

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.