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

Kontoor Brands, Inc. (NYSE:KTB) saw a significant decline in short interest in December. As of December 31st, there was short interest totalling 3,260,000 shares, a decline of 5.8% from the December 15th total of 3,460,000 shares. Based on an average daily volume of 427,400 shares, the days-to-cover ratio is currently 7.6 days. Currently, 6.0% of the company’s stock are short sold.

Kontoor Brands Stock Performance

Shares of KTB traded up $1.26 during trading hours on Friday, reaching $86.10. 266,469 shares of the company’s stock traded hands, compared to its average volume of 353,665. The business’s fifty day simple moving average is $88.47 and its two-hundred day simple moving average is $79.44. The firm has a market capitalization of $4.75 billion, a price-to-earnings ratio of 19.39, a P/E/G ratio of 2.04 and a beta of 1.20. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $94.82.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The company had revenue of $670.19 million for the quarter, compared to the consensus estimate of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. Kontoor Brands’s revenue was up 2.4% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. Analysts predict that Kontoor Brands will post 4.82 earnings per share for the current year.

Kontoor Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 19th. Stockholders of record on Monday, December 9th were issued a $0.52 dividend. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Monday, December 9th. This represents a $2.08 annualized dividend and a dividend yield of 2.42%. Kontoor Brands’s dividend payout ratio is 46.85%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on KTB. UBS Group boosted their price target on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report 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 report on Wednesday, October 23rd. 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 research report on Friday, November 1st. Guggenheim boosted their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Barclays increased their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.00.

Insiders Place Their Bets

In related news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of Kontoor Brands stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares in the company, valued at approximately $1,467,227.09. The trade was a 33.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott H. Baxter sold 119,160 shares of the business’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the sale, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. 2.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in Kontoor Brands during the second quarter valued at approximately $27,000. American Century Companies Inc. lifted its position in shares of Kontoor Brands by 48.7% during the 2nd quarter. American Century Companies Inc. now owns 36,081 shares of the company’s stock valued at $2,387,000 after acquiring an additional 11,810 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Kontoor Brands by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,250,293 shares of the company’s stock worth $82,707,000 after acquiring an additional 60,926 shares in the last quarter. Hsbc Holdings PLC increased its stake in Kontoor Brands by 2.2% in the 2nd quarter. Hsbc Holdings PLC now owns 9,340 shares of the company’s stock worth $616,000 after purchasing an additional 203 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Kontoor Brands during the 2nd quarter worth about $268,000. 93.06% of the stock is owned by institutional investors and hedge funds.

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.