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

Shares of Kontoor Brands, Inc. (NYSE:KTB) have received an average recommendation of “Moderate Buy” from the twelve ratings firms that are presently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, six have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $91.20.

A number of equities analysts recently issued reports on the company. Barclays raised their price target on Kontoor Brands from $93.00 to $96.00 and gave the stock an “overweight” rating in a report on Monday, May 11th. Zacks Research raised Kontoor Brands from a “strong sell” rating to a “hold” rating in a research note on Thursday, July 9th. BTIG Research reaffirmed a “buy” rating and set a $100.00 price objective on shares of Kontoor Brands in a research report on Friday, May 1st. JPMorgan Chase & Co. began coverage on Kontoor Brands in a report on Monday, June 8th. They set an “overweight” rating and a $90.00 price target for the company. Finally, Wall Street Zen lowered shares of Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th.

Insider Activity at Kontoor Brands

In other news, EVP Jennifer H. Broyles sold 4,000 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $81.02, for a total value of $324,080.00. Following the completion of the sale, the executive vice president owned 40,261 shares in the company, valued at approximately $3,261,946.22. This trade represents a 9.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new position in Kontoor Brands during the fourth quarter worth $36,185,000. Boston Partners purchased a new stake in Kontoor Brands during the third quarter worth about $44,733,000. JPMorgan Chase & Co. boosted its holdings in Kontoor Brands by 15.8% during the fourth quarter. JPMorgan Chase & Co. now owns 3,019,204 shares of the company’s stock worth $184,443,000 after buying an additional 413,005 shares in the last quarter. Amundi acquired a new position in Kontoor Brands during the third quarter worth about $24,653,000. Finally, Balyasny Asset Management L.P. grew its position in Kontoor Brands by 134.3% during the second quarter. Balyasny Asset Management L.P. now owns 468,630 shares of the company’s stock worth $30,916,000 after buying an additional 268,604 shares during the period. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Kontoor Brands Trading Down 0.9%

Shares of Kontoor Brands stock opened at $84.05 on Wednesday. Kontoor Brands has a 1 year low of $53.55 and a 1 year high of $88.85. 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 company has a market capitalization of $4.65 billion, a P/E ratio of 17.01 and a beta of 0.87. The company’s fifty day moving average is $75.62 and its two-hundred day moving average is $70.04.

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

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 18th. Shareholders of record on Monday, June 8th were given a dividend of $0.53 per share. The ex-dividend date was Monday, June 8th. This represents a $2.12 dividend on an annualized basis and a yield of 2.5%. Kontoor Brands’s dividend payout ratio is presently 42.91%.

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.