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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been given an average rating of “Moderate Buy” by the ten ratings firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $84.6667.

A number of research firms have recently commented on KTB. Jefferies Financial Group started coverage on Kontoor Brands in a research note on Wednesday, February 4th. They set a “hold” rating and a $65.00 target price on the stock. Stifel Nicolaus lifted their price objective on shares of Kontoor Brands from $73.00 to $75.00 and gave the stock a “hold” rating in a research report on Tuesday, November 4th. Wall Street Zen cut shares of Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Kontoor Brands in a research report on Monday, December 29th. Finally, Wells Fargo & Company lowered their price target on shares of Kontoor Brands from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Harbor Capital Advisors Inc. lifted its holdings in Kontoor Brands by 73.0% during the third quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock valued at $25,000 after purchasing an additional 130 shares during the last quarter. Transamerica Financial Advisors LLC raised its position in shares of Kontoor Brands by 335.5% in the fourth quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock valued at $25,000 after purchasing an additional 312 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Kontoor Brands in the second quarter valued at approximately $26,000. Clearstead Advisors LLC lifted its stake in shares of Kontoor Brands by 2,538.5% during the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after buying an additional 330 shares in the last quarter. Finally, Torren Management LLC bought a new position in Kontoor Brands in the 4th quarter worth approximately $27,000. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB opened at $67.66 on Friday. The stock has a 50 day moving average of $62.59 and a 200 day moving average of $71.48. The company has a market capitalization of $3.76 billion, a price-to-earnings ratio of 17.44 and a beta of 1.19. Kontoor Brands has a 12 month low of $50.00 and a 12 month high of $91.85. The company has a current ratio of 1.91, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be paid a $0.53 dividend. The ex-dividend date is Tuesday, March 10th. This represents a $2.12 annualized dividend and a dividend yield of 3.1%. Kontoor Brands’s payout ratio is presently 54.64%.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.