Fintel reports that on September 18, 2023, Stifel reiterated coverage of Kontoor Brands (NYSE:KTB) with a Buy recommendation.
Analyst Price Forecast Suggests 25.69% Upside
As of August 31, 2023, the average one-year price target for Kontoor Brands is 53.77. The forecasts range from a low of 27.27 to a high of $68.25. The average price target represents an increase of 25.69% from its latest reported closing price of 42.78.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Kontoor Brands is 2,641MM, an increase of 0.75%. The projected annual non-GAAP EPS is 4.46.
Kontoor Brands Declares $0.48 Dividend
On July 21, 2023 the company declared a regular quarterly dividend of $0.48 per share ($1.92 annualized). Shareholders of record as of September 8, 2023 received the payment on September 18, 2023. Previously, the company paid $0.48 per share.
At the current share price of $42.78 / share, the stock's dividend yield is 4.49%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.77%, the lowest has been 2.40%, and the highest has been 14.85%. The standard deviation of yields is 1.87 (n=181).
The current dividend yield is 0.15 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.52. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 589 funds or institutions reporting positions in Kontoor Brands. This is a decrease of 55 owner(s) or 8.54% in the last quarter. Average portfolio weight of all funds dedicated to KTB is 0.14%, a decrease of 12.97%. Total shares owned by institutions decreased in the last three months by 4.81% to 72,514K shares. 
The put/call ratio of KTB is 1.37, indicating a bearish outlook.
What are Other Shareholders Doing?
Pnc Financial Services Group holds 10,778K shares representing 19.20% ownership of the company. In it's prior filing, the firm reported owning 10,778K shares, representing a decrease of 0.00%. The firm increased its portfolio allocation in KTB by 314.41% over the last quarter.
Cullen Capital Management holds 8,427K shares representing 15.02% ownership of the company. In it's prior filing, the firm reported owning 9,202K shares, representing a decrease of 9.19%. The firm decreased its portfolio allocation in KTB by 6.61% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 3,501K shares representing 6.24% ownership of the company. In it's prior filing, the firm reported owning 3,601K shares, representing a decrease of 2.86%. The firm decreased its portfolio allocation in KTB by 18.09% over the last quarter.
Ameriprise Financial holds 2,541K shares representing 4.53% ownership of the company. In it's prior filing, the firm reported owning 2,996K shares, representing a decrease of 17.92%. The firm decreased its portfolio allocation in KTB by 29.46% over the last quarter.
Capital World Investors holds 2,237K shares representing 3.99% ownership of the company. No change in the last quarter.
Kontoor Brands Background Information
(This description is provided by the company.)
Wrangler® has been an icon in authentic American style around the world for more than 70 years. With a rich legacy rooted in the American west, Wrangler commits to offering unmatched quality and timeless design. Its collections for men, women and children look and feel great, inspiring those who wear them to be strong and ready for life, every day. Wrangler is available in retail stores worldwide, including brand flagship stores in Denver and Dallas, department stores, mass-market retailers, specialty shops, western outfitters, and online.
Fintel is one of the most comprehensive investing research platforms available to individual investors, traders, financial advisors, and small hedge funds.
Our data covers the world, and includes fundamentals, analyst reports, ownership data and fund sentiment, options sentiment, insider trading, options flow, unusual options trades, and much more. Additionally, our exclusive stock picks are powered by advanced, backtested quantitative models for improved profits.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
