Kontoor Brands (NYSE:KTB) Hits New 1-Year High – Time to Buy?

Kontoor Brands, Inc. (NYSE:KTB)’s stock price hit a new 52-week high on Monday . The stock traded as high as $93.54 and last traded at $93.26, with a volume of 21332 shares. The stock had previously closed at $91.38.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on KTB shares. UBS Group raised their price objective on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Wells Fargo & Company upped their price objective on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Guggenheim raised their target price on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the company from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Barclays upped their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Down 1.8 %

The firm has a market capitalization of $5.08 billion, a PE ratio of 20.73, a P/E/G ratio of 2.43 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a 50-day moving average price of $83.17 and a 200 day moving average price of $74.72.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. During the same period last year, the firm posted $1.22 EPS. The company’s revenue was up 2.4% on a year-over-year basis. Analysts forecast that Kontoor Brands, Inc. will post 4.83 earnings per share for the current year.

Kontoor Brands Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Stockholders of record on Monday, December 9th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.26%. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date is Monday, December 9th. Kontoor Brands’s payout ratio is 45.05%.

Insider Buying and Selling

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the business’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the sale, the executive vice president now directly owns 18,179 shares in the company, valued at $1,467,227.09. The trade was a 33.21 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Scott H. Baxter sold 119,160 shares of the stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Kontoor Brands

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in KTB. Quest Partners LLC purchased a new stake in Kontoor Brands during the 2nd quarter valued at $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of Kontoor Brands in the third quarter valued at $30,000. Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands in the third quarter valued at $32,000. Farther Finance Advisors LLC lifted its holdings in shares of Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new position in shares of Kontoor Brands during the 3rd quarter worth about $48,000. 93.06% of the stock is currently owned by hedge funds and other institutional investors.

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.