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

Kontoor Brands, Inc. (NYSE:KTB) has been given an average rating of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $94.67.

A number of research firms have issued reports on KTB. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Guggenheim boosted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. UBS Group dropped their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their target price for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Barclays boosted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently bought and sold shares of the stock. State Street Corp raised its stake in shares of Kontoor Brands by 1.2% in the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after buying an additional 26,759 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock valued at $152,564,000 after buying an additional 44,287 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock worth $119,827,000 after purchasing an additional 199,601 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Kontoor Brands by 11.8% in the 4th quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company’s stock worth $115,755,000 after purchasing an additional 142,956 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Kontoor Brands by 0.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company’s stock worth $108,252,000 after purchasing an additional 5,207 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Stock Performance

Kontoor Brands stock traded up $1.01 during midday trading on Tuesday, reaching $84.74. 31,818 shares of the stock traded hands, compared to its average volume of 468,882. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a fifty day moving average price of $87.27 and a two-hundred day moving average price of $82.49. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of 19.09, a PEG ratio of 2.08 and a beta of 1.19. Kontoor Brands has a fifty-two week low of $52.95 and a fifty-two week high of $96.80.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 2.45%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is currently 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.