Kontoor Brands, Inc. (NYSE:KTB) Sees Significant Decline in Short Interest

Kontoor Brands, Inc. (NYSE:KTB) was the target of a significant decrease in short interest in 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 short sold. Based on an average trading volume of 628,400 shares, the short-interest ratio is presently 4.3 days.

Kontoor Brands Price Performance

Shares of Kontoor Brands stock traded up $1.54 on Wednesday, reaching $63.50. 800,911 shares of the stock were exchanged, compared to its average volume of 715,352. 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 firm has a market cap of $3.51 billion, a PE ratio of 14.30, a P/E/G ratio of 2.12 and a beta of 1.23. The firm’s 50 day moving average is $79.70 and its 200-day moving average is $82.22. Kontoor Brands has a one year low of $52.95 and a one year high of $96.80.

Kontoor Brands (NYSE:KTB) last issued 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. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $699.00 million for the quarter, compared to analyst estimates of $698.07 million. During the same quarter last year, the company posted $1.28 EPS. The company’s revenue for the quarter was up 4.4% compared to the same quarter last year. As a group, analysts anticipate that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Kontoor Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, March 20th. Investors of record on Monday, March 10th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.28%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s dividend payout ratio (DPR) is 47.60%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KTB. Barclays dropped their price objective 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. UBS Group dropped their price target on shares of Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Finally, Wells Fargo & Company reduced their price target on Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.50.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently bought and sold shares of the company. HHM Wealth Advisors LLC acquired a new stake in Kontoor Brands during the 4th quarter worth approximately $29,000. Huntington National Bank increased its holdings in Kontoor Brands by 62.4% in the fourth quarter. Huntington National Bank now owns 385 shares of the company’s stock valued at $33,000 after purchasing an additional 148 shares during the period. Fortitude Family Office LLC lifted 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 buying an additional 334 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Kontoor Brands by 229.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 722 shares of the company’s stock valued at $62,000 after buying an additional 503 shares during the period. Finally, Quarry LP raised its position in shares of Kontoor Brands by 161.3% during the fourth quarter. Quarry LP now owns 729 shares of the company’s stock worth $62,000 after acquiring an additional 450 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

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.