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

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on KTB. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and upped their price objective for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Guggenheim increased their price objective on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Barclays boosted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company increased their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, UBS Group reduced their price target on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $94.67.

Kontoor Brands Price Performance

Shares of KTB stock opened at $85.86 on Wednesday. Kontoor Brands has a 1 year low of $52.95 and a 1 year high of $96.80. 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 firm’s 50 day moving average is $87.18 and its 200-day moving average is $82.57. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.98 and a beta of 1.19.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a $0.52 dividend. The ex-dividend date is Monday, March 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. Kontoor Brands’s payout ratio is 46.85%.

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors have recently modified their holdings of KTB. Mendel Money Management lifted its holdings in shares of Kontoor Brands by 2.8% during the 4th quarter. Mendel Money Management now owns 4,934 shares of the company’s stock valued at $421,000 after purchasing an additional 135 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Kontoor Brands by 3.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock valued at $408,000 after purchasing an additional 141 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Kontoor Brands by 14.1% during 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 during the period. Huntington National Bank boosted its position in Kontoor Brands by 62.4% during the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock worth $33,000 after purchasing an additional 148 shares during the period. Finally, GAMMA Investing LLC grew its stake in Kontoor Brands by 26.0% in the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock valued at $75,000 after buying an additional 182 shares during the last quarter. 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.