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

by · The Markets Daily

Kontoor Brands, Inc. (NYSE:KTB – Get Free Report) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $77.20.

KTB has been the topic of several analyst reports. The Goldman Sachs Group increased their target price on shares of Kontoor Brands from $68.00 to $77.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Stifel Nicolaus raised their price target on Kontoor Brands from $77.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Barclays increased their target price on Kontoor Brands from $65.00 to $76.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd.

Read Our Latest Stock Analysis on KTB

Kontoor Brands Trading Down 1.9 %

NYSE:KTB opened at $64.87 on Thursday. The company has a debt-to-equity ratio of 1.96, a current ratio of 2.70 and a quick ratio of 1.42. The stock has a market cap of $3.62 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.75 and a beta of 1.14. The stock’s 50-day moving average is $68.55 and its two-hundred day moving average is $62.66. Kontoor Brands has a fifty-two week low of $37.10 and a fifty-two week high of $74.90.

Kontoor Brands (NYSE:KTB – Get Free Report) last issued its earnings results on Thursday, May 2nd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.26. Kontoor Brands had a return on equity of 71.45% and a net margin of 8.72%. The firm had revenue of $631.20 million for the quarter, compared to the consensus estimate of $607.91 million. During the same quarter in the previous year, the company posted $1.16 earnings per share. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities research analysts forecast that Kontoor Brands will post 4.73 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

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

Insider Activity

In other Kontoor Brands news, CAO Susan Denise Sumner sold 4,713 shares of Kontoor Brands stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the transaction, the chief accounting officer now directly owns 15,379 shares of the company’s stock, valued at $1,112,824.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Susan Denise Sumner sold 4,713 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $72.36, for a total transaction of $341,032.68. Following the completion of the sale, the chief accounting officer now directly owns 15,379 shares of the company’s stock, valued at approximately $1,112,824.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Scott H. Baxter sold 29,212 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $71.52, for a total value of $2,089,242.24. Following 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. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of KTB. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Kontoor Brands during the fourth quarter worth approximately $25,000. Principal Securities Inc. bought a new stake in shares of Kontoor Brands in the 4th quarter valued at about $32,000. Cary Street Partners Investment Advisory LLC increased its stake in Kontoor Brands by 5,710.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 571 shares in the last quarter. Oakworth Capital Inc. boosted its position in shares of Kontoor Brands by 157.8% during the fourth quarter. Oakworth Capital Inc. now owns 781 shares of the company’s stock worth $49,000 after purchasing an additional 478 shares in the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of Kontoor Brands in the 4th quarter valued at $81,000. Institutional investors and hedge funds own 93.06% of the company’s stock.

About Kontoor Brands

(Get Free Report

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.

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