Analysts Set Kontoor Brands, Inc. (NYSE:KTB) Price Target at $91.50

Kontoor Brands, Inc. (NYSE:KTB) has been assigned an average recommendation of “Moderate Buy” from the six research firms that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $88.00.

Several equities research analysts recently weighed in on the company. Stifel Nicolaus reduced their target price on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a report on Thursday. UBS Group lowered their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Wells Fargo & Company cut their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Finally, Barclays lowered their price target on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $57.34 on Wednesday. The company’s fifty day moving average is $68.56 and its two-hundred day moving average is $80.15. The company has a market cap of $3.17 billion, a P/E ratio of 12.92, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. Kontoor Brands has a 12-month low of $50.00 and a 12-month high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $699.00 million for the quarter, compared to analysts’ expectations of $698.07 million. During the same period in the previous year, the company posted $1.28 EPS. Kontoor Brands’s revenue was up 4.4% on a year-over-year basis. Equities analysts expect that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Stockholders of record on Monday, March 10th were given a dividend of $0.52 per share. The ex-dividend date was Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.63%. Kontoor Brands’s dividend payout ratio is 47.60%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sanctuary Advisors LLC bought a new position in Kontoor Brands during the 3rd quarter worth about $332,000. Principal Financial Group Inc. boosted its position in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock worth $22,294,000 after acquiring an additional 7,445 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Kontoor Brands by 31.4% during the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after acquiring an additional 11,337 shares in the last quarter. Fortitude Family Office LLC raised its holdings in shares of Kontoor Brands by 407.3% in the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares during the last quarter. Finally, Level Wealth Management LLC bought a new stake in shares of Kontoor Brands in the fourth quarter worth $350,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Company Profile

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.