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

Kontoor Brands, Inc. (NYSE:KTB) was down 5% 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 traded 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.

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

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mendel Money Management raised its position in shares of 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 acquiring an additional 135 shares in the last quarter. Janney Montgomery Scott LLC raised its position 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 acquiring an additional 141 shares in the last quarter. Quadrant Capital Group LLC raised its position in shares of Kontoor Brands by 14.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,177 shares of the company’s stock worth $101,000 after acquiring an additional 145 shares in the last quarter. Huntington National Bank raised its position in shares of Kontoor Brands by 62.4% in the 4th quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after acquiring an additional 148 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

The stock has a market cap of $3.78 billion, a P/E ratio of 15.44, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The firm has a 50-day moving average price of $86.43 and a 200-day moving average price of $83.15. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

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

Kontoor Brands Announces Dividend

The business also recently declared 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 of this dividend is Monday, March 10th. This represents a $2.08 annualized dividend and a dividend yield of 3.03%. Kontoor Brands’s payout ratio is currently 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.