Kontoor Brands (NYSE:KTB) Trading Down 5% Following Analyst Downgrade

Kontoor Brands, Inc. (NYSE:KTB)’s share price dropped 5% during mid-day 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. Approximately 162,212 shares changed hands during mid-day trading, a decline of 73% from the average daily volume of 595,634 shares. The stock had previously closed at $74.58.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in KTB. International Assets Investment Management LLC increased its position in Kontoor Brands by 8,078.0% during the 3rd quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock valued at $2,341,000 after purchasing an additional 28,273 shares during the period. Nisa Investment Advisors LLC increased its position in Kontoor Brands by 0.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 46,432 shares of the company’s stock valued at $3,797,000 after purchasing an additional 375 shares during the period. US Bancorp DE increased its position in Kontoor Brands by 24.1% during the 3rd quarter. US Bancorp DE now owns 2,685 shares of the company’s stock valued at $220,000 after purchasing an additional 522 shares during the period. Farther Finance Advisors LLC increased its position in Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares during the period. Finally, James Investment Research Inc. purchased a new position in Kontoor Brands during the 3rd quarter valued at about $2,016,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Down 1.4 %

The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a market cap of $3.72 billion, a PE ratio of 15.20, a P/E/G ratio of 2.12 and a beta of 1.19. The business’s 50-day simple moving average is $86.05 and its 200 day simple moving average is $83.04.

Kontoor Brands (NYSE:KTB) last issued 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. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The firm had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the previous year, the firm earned $1.28 EPS. The company’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The business also recently announced 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. This represents a $2.08 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is presently 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.