Kontoor Brands (NYSE:KTB) Shares Down 5% on Analyst Downgrade

Kontoor Brands, Inc. (NYSE:KTB)’s share price fell 5% during trading on Wednesday after Barclays lowered their price target on the stock from $100.00 to $93.00. Barclays currently has an overweight rating on the stock. Kontoor Brands traded as low as $72.00 and last traded at $70.85. 162,212 shares were traded during mid-day trading, a decline of 73% from the average session volume of 595,634 shares. The stock had previously closed at $74.58.

Several other analysts also recently issued reports on the stock. UBS Group reduced their price target on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. Stifel Nicolaus cut shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. Finally, Guggenheim raised their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $95.17.

Institutional Trading of Kontoor Brands

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

Kontoor Brands Stock Performance

The firm has a market cap of $3.91 billion, a PE ratio of 15.98, a PEG ratio of 2.12 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The company has a 50-day simple moving average of $86.77 and a two-hundred day simple moving average of $83.25.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.07. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm’s quarterly revenue was up 4.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.28 earnings per share. As a group, equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be paid a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 2.94%. Kontoor Brands’s payout ratio is 46.85%.

Kontoor Brands Company Profile

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.