Short Interest in Kontoor Brands, Inc. (NYSE:KTB) Drops By 15.7%

by · The Markets Daily

Kontoor Brands, Inc. (NYSE:KTB – Get Free Report) was the target of a large decline in short interest during the month of February. As of February 28th, there was short interest totalling 2,680,000 shares, a decline of 15.7% from the February 13th total of 3,180,000 shares. Currently, 4.9% of the shares of the stock are short sold. Based on an average trading volume of 628,400 shares, the days-to-cover ratio is presently 4.3 days.

Analysts Set New Price Targets

A number of analysts have issued reports on KTB shares. Barclays reduced their price objective on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. UBS Group reduced their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating on the stock in a research note on Friday, February 28th. Finally, Wells Fargo & Company reduced their price objective on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Check Out Our Latest Analysis on KTB

Hedge Funds Weigh In On Kontoor Brands

A number of large investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC boosted its holdings in Kontoor Brands by 17.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,297 shares of the company’s stock valued at $367,000 after acquiring an additional 651 shares during the period. Azzad Asset Management Inc. ADV boosted its holdings in Kontoor Brands by 1.6% during the 4th quarter. Azzad Asset Management Inc. ADV now owns 36,798 shares of the company’s stock valued at $3,143,000 after acquiring an additional 588 shares during the period. Jefferies Financial Group Inc. lifted its holdings in shares of Kontoor Brands by 2.0% in the 4th quarter. Jefferies Financial Group Inc. now owns 84,679 shares of the company’s stock worth $7,232,000 after buying an additional 1,679 shares during the period. Vise Technologies Inc. lifted its holdings in shares of Kontoor Brands by 16.5% in the 4th quarter. Vise Technologies Inc. now owns 3,777 shares of the company’s stock worth $323,000 after buying an additional 535 shares during the period. Finally, PharVision Advisers LLC purchased a new stake in shares of Kontoor Brands in the 4th quarter worth $249,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Trading Down 0.3 %

Shares of NYSE KTB traded down $0.20 during trading hours on Thursday, hitting $63.31. 432,601 shares of the company traded hands, compared to its average volume of 484,943. The stock has a market capitalization of $3.50 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. 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 company’s 50 day moving average price is $79.20 and its 200 day moving average price is $82.09. Kontoor Brands has a 12 month low of $52.95 and a 12 month high of $96.80.

Kontoor Brands (NYSE:KTB – Get Free Report) last released its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. The firm had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.28 EPS. On average, equities research analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s payout ratio is currently 47.60%.

About Kontoor Brands

(Get Free Report)

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.

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