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

Kontoor Brands, Inc. (NYSE:KTB) was the target of a significant drop in short interest in January. As of January 31st, there was short interest totalling 3,030,000 shares, a drop of 5.9% from the January 15th total of 3,220,000 shares. Based on an average daily volume of 443,200 shares, the short-interest ratio is presently 6.8 days. Currently, 5.6% of the company’s stock are short sold.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on KTB. Guggenheim raised their target price 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. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and raised their target price for the company from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group decreased their target price 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. Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays lifted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.67.

Kontoor Brands Stock Performance

Shares of KTB opened at $89.33 on Thursday. The firm has a 50-day moving average of $87.13 and a 200-day moving average of $82.73. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market cap of $4.93 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 1.98 and a beta of 1.19. Kontoor Brands has a one year low of $52.95 and a one year high of $96.80.

Kontoor Brands Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Stockholders of record on Monday, March 10th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s dividend payout ratio is presently 46.85%.

Institutional Trading of Kontoor Brands

Hedge funds have recently modified their holdings of the stock. Sanctuary Advisors LLC acquired a new stake in shares of Kontoor Brands during the 3rd quarter worth about $332,000. Janus Henderson Group PLC lifted its stake in shares of 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 buying an additional 11,337 shares during the last quarter. Fortitude Family Office LLC lifted its stake in shares of 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 buying an additional 334 shares during the last quarter. International Assets Investment Management LLC lifted its stake in shares of 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 worth $2,341,000 after buying an additional 28,273 shares during the last quarter. Finally, Natixis Advisors LLC lifted its stake in shares of 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 buying an additional 1,087 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

About Kontoor Brands

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.