Kontoor Brands (NYSE:KTB) Stock Price Down 6.7% – Here’s Why

Kontoor Brands, Inc. (NYSE:KTBGet Free Report) fell 6.7% during trading on Monday . The company traded as low as $86.16 and last traded at $85.67. 115,104 shares changed hands during trading, a decline of 73% from the average session volume of 431,573 shares. The stock had previously closed at $91.85.

Analysts Set New Price Targets

Several analysts have commented on the stock. Guggenheim lifted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company increased their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays boosted their target price on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded 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 note on Friday, November 1st. Finally, UBS Group boosted their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $95.00.

Get Our Latest Stock Analysis on Kontoor Brands

Kontoor Brands Stock Performance

The stock has a market capitalization of $4.87 billion, a P/E ratio of 19.88, a PEG ratio of 2.18 and a beta of 1.20. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The company has a 50-day moving average price of $88.70 and a two-hundred day moving average price of $81.34.

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

Insiders Place Their Bets

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at approximately $27,748,177.60. This trade represents a 26.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On Kontoor Brands

Large investors have recently added to or reduced their stakes in the business. HHM Wealth Advisors LLC purchased a new position in shares of Kontoor Brands in the fourth quarter worth about $29,000. Northwest Investment Counselors LLC bought a new position in Kontoor Brands during the 3rd quarter worth approximately $30,000. Kennebec Savings Bank purchased a new position in Kontoor Brands in the 3rd quarter worth approximately $32,000. Farther Finance Advisors LLC lifted its position 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 purchasing an additional 274 shares during the last quarter. Finally, Fortitude Family Office LLC boosted its stake in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after purchasing an additional 334 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Company Profile

(Get Free Report)

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.

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