Kontoor Brands, Inc. (NYSE:KTB) Short Interest Update

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

Analyst Ratings Changes

Several equities analysts recently commented on KTB shares. Barclays cut their target price on shares of Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research note on Wednesday, February 26th. Wells Fargo & Company cut their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating for the company in a research note on Thursday, March 13th. Finally, UBS Group cut their target price on shares of Kontoor Brands from $108.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Kontoor Brands currently has an average rating of "Moderate Buy" and an average target price of $91.50.

Kontoor Brands Stock Performance

Kontoor Brands stock traded up $0.76 on Friday, hitting $63.68. The company's stock had a trading volume of 2,416,035 shares, compared to its average volume of 494,294. The firm has a market cap of $3.52 billion, a P/E ratio of 14.34, a price-to-earnings-growth ratio of 2.12 and a beta of 1.23. 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 fifty day moving average price of $78.25 and a 200-day moving average price of $81.94. Kontoor Brands has a one year low of $52.95 and a one year high of $96.80.

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Kontoor Brands (NYSE:KTB - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share (EPS) 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 analyst estimates of $698.07 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The business's revenue for the quarter was up 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.28 EPS. On average, equities analysts anticipate that Kontoor Brands will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Shareholders of record on Monday, March 10th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.27%. The ex-dividend date was Monday, March 10th. Kontoor Brands's dividend payout ratio (DPR) is presently 47.60%.

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors and hedge funds have recently bought and sold shares of KTB. Sanctuary Advisors LLC bought a new stake in shares of Kontoor Brands in the 3rd quarter worth about $332,000. Janus Henderson Group PLC grew its holdings in Kontoor Brands by 31.4% during the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company's stock worth $3,883,000 after acquiring an additional 11,337 shares during the last quarter. Principal Financial Group Inc. grew its holdings in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company's stock worth $22,294,000 after acquiring an additional 7,445 shares during the last quarter. Fortitude Family Office LLC grew its holdings in Kontoor Brands by 407.3% during the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company's stock worth $36,000 after acquiring an additional 334 shares during the last quarter. Finally, Natixis Advisors LLC grew its holdings in Kontoor Brands by 6.7% during the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company's stock worth $1,422,000 after acquiring an additional 1,087 shares during the last quarter. Institutional investors own 93.06% of the company's stock.

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.