Kontoor Brands, Inc. (NYSE:KTB) Receives $90.25 Consensus Target Price from Brokerages

Shares of Kontoor Brands, Inc. (NYSE:KTB) have received an average recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $90.25.

Several equities analysts have issued reports on the company. Baird R W upgraded Kontoor Brands to a “strong-buy” rating in a research note on Friday, October 17th. Robert W. Baird initiated coverage on shares of Kontoor Brands in a research report on Friday, October 17th. They issued an “outperform” rating and a $105.00 price objective for the company. Wells Fargo & Company lifted their price objective on Kontoor Brands from $90.00 to $100.00 and gave the stock an “overweight” rating in a report on Thursday, September 11th. Stifel Nicolaus increased their price target on Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Finally, UBS Group increased their price target on Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th.

Kontoor Brands Stock Down 1.0%

Shares of NYSE:KTB opened at $61.01 on Friday. The firm has a market capitalization of $3.39 billion, a PE ratio of 15.72 and a beta of 1.18. Kontoor Brands has a 1 year low of $50.00 and a 1 year high of $96.80. The business has a 50 day simple moving average of $71.54 and a two-hundred day simple moving average of $72.25. The company has a debt-to-equity ratio of 2.53, a current ratio of 1.91 and a quick ratio of 0.82.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Monday, November 3rd. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. Kontoor Brands had a net margin of 7.68% and a return on equity of 63.21%. The company had revenue of $853.22 million during the quarter, compared to analyst estimates of $879.10 million. During the same quarter last year, the business posted $1.37 EPS. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Kontoor Brands has set its FY 2025 guidance at 5.500-5.500 EPS and its Q4 2025 guidance at 1.640-1.640 EPS. On average, equities analysts predict that Kontoor Brands will post 4.82 EPS for the current year.

Kontoor Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 18th. Stockholders of record on Monday, December 8th were paid a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Monday, December 8th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.52. Kontoor Brands’s dividend payout ratio (DPR) is 54.64%.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. JPMorgan Chase & Co. boosted its holdings in shares of Kontoor Brands by 69.3% in the second quarter. JPMorgan Chase & Co. now owns 2,553,092 shares of the company’s stock valued at $168,428,000 after acquiring an additional 1,044,921 shares during the period. Norges Bank purchased a new position in Kontoor Brands during the second quarter worth $45,762,000. Boston Partners acquired a new position in shares of Kontoor Brands in the third quarter valued at approximately $44,733,000. Invesco Ltd. increased its stake in Kontoor Brands by 54.2% in the second quarter. Invesco Ltd. now owns 1,241,839 shares of the company’s stock valued at $81,924,000 after purchasing an additional 436,246 shares during the last quarter. Finally, Amundi purchased a new position in Kontoor Brands during the third quarter worth approximately $24,653,000. 93.06% of the stock is owned by institutional investors and hedge funds.

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.