Kontoor Brands (NYSE:KTB) Shares Gap Down – What’s Next?

Shares of Kontoor Brands, Inc. (NYSE:KTB) gapped down before the market opened on Tuesday . The stock had previously closed at $86.17, but opened at $81.77. Kontoor Brands shares last traded at $73.01, with a volume of 253,865 shares changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on KTB. UBS Group reduced their target price 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. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Barclays boosted their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Wells Fargo & Company increased their target price 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. Finally, Guggenheim boosted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One investment 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 has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Kontoor Brands Stock Down 13.0 %

The company has a market cap of $4.14 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The business has a 50-day simple moving average of $87.05 and a 200-day simple moving average of $83.23.

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

Kontoor Brands Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.52 per share. The ex-dividend date is Monday, March 10th. This represents a $2.08 annualized dividend and a yield of 2.77%. Kontoor Brands’s payout ratio is currently 46.85%.

Institutional Trading of Kontoor Brands

Hedge funds have recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in shares of Kontoor Brands during the 4th quarter worth $29,000. Kennebec Savings Bank acquired a new stake in Kontoor Brands during the 3rd quarter worth approximately $32,000. Farther Finance Advisors LLC raised its holdings in Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after buying an additional 274 shares during the period. Huntington National Bank lifted its position in Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after buying an additional 148 shares in the last quarter. Finally, Fortitude Family Office LLC grew its stake in Kontoor Brands by 407.3% during the fourth 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 period. Institutional investors and hedge funds 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.