Kontoor Brands (NYSE:KTB) Downgraded to “Strong Sell” Rating by Zacks Research

Zacks Research cut shares of Kontoor Brands (NYSE:KTB) from a hold rating to a strong sell rating in a report published on Wednesday morning,Zacks.com reports.

Several other research firms have also commented on KTB. UBS Group boosted their price objective on shares of Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research note on Wednesday, March 4th. Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 4th. Stifel Nicolaus boosted their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “hold” rating in a research note on Tuesday, March 3rd. Barclays boosted their price objective on shares of Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a research note on Monday, May 11th. Finally, Weiss Ratings upgraded shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $91.20.

Kontoor Brands Trading Up 6.0%

NYSE:KTB opened at $80.48 on Wednesday. Kontoor Brands has a one year low of $53.55 and a one year high of $87.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 1.10 and a current ratio of 1.87. The firm has a market cap of $4.45 billion, a P/E ratio of 16.29 and a beta of 0.89. The firm has a 50-day simple moving average of $71.45 and a 200-day simple moving average of $68.10.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.11). The business had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. The company’s revenue for the quarter was up 45.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. Equities analysts anticipate that Kontoor Brands will post 5.2 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, June 8th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 2.6%. The ex-dividend date of this dividend is Monday, June 8th. Kontoor Brands’s payout ratio is currently 42.91%.

Institutional Trading of Kontoor Brands

Several large investors have recently bought and sold shares of KTB. Transamerica Financial Advisors LLC grew its position in Kontoor Brands by 335.5% during the 4th quarter. Transamerica Financial Advisors LLC now owns 405 shares of the company’s stock worth $25,000 after purchasing an additional 312 shares during the last quarter. Clearstead Advisors LLC grew its position in Kontoor Brands by 2,538.5% during the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock worth $27,000 after purchasing an additional 330 shares during the last quarter. Torren Management LLC purchased a new stake in Kontoor Brands during the 4th quarter worth approximately $27,000. Assetmark Inc. grew its position in Kontoor Brands by 532.3% during the 3rd quarter. Assetmark Inc. now owns 392 shares of the company’s stock worth $31,000 after purchasing an additional 330 shares during the last quarter. Finally, Private Trust Co. NA purchased a new stake in Kontoor Brands during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

About Kontoor Brands

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.