Brokerages Set Kontoor Brands, Inc. (NYSE:KTB) PT at $94.67

Shares of Kontoor Brands, Inc. (NYSE:KTB) have been given an average recommendation of “Moderate Buy” by the six brokerages that are currently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating on the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $96.33.

A number of brokerages have weighed in on KTB. Wells Fargo & Company raised their price objective on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Thursday, February 20th. Guggenheim boosted their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and upped their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. UBS Group reduced their price target on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, Barclays upped their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st.

Kontoor Brands Stock Performance

NYSE KTB opened at $86.29 on Tuesday. 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 stock’s 50 day simple moving average is $87.12 and its 200-day simple moving average is $83.12. The company has a market cap of $4.76 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. Kontoor Brands has a 1-year low of $52.95 and a 1-year high of $96.80.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is 46.85%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Mendel Money Management lifted its holdings in shares of Kontoor Brands by 2.8% in the 4th quarter. Mendel Money Management now owns 4,934 shares of the company’s stock worth $421,000 after acquiring an additional 135 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Kontoor Brands by 3.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after purchasing an additional 141 shares during the period. Quadrant Capital Group LLC lifted its stake in Kontoor Brands by 14.1% during the fourth quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock worth $101,000 after purchasing an additional 145 shares in the last quarter. Huntington National Bank boosted its position in shares of Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after buying an additional 148 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Kontoor Brands by 26.0% in the fourth quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

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.