Kontoor Brands (NYSE:KTB) Shares Gap Down – Time to Sell?

Kontoor Brands, Inc. (NYSE:KTB) shares 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 trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Barclays raised 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. Guggenheim upped their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group dropped their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a report on Tuesday, February 18th. Finally, Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, February 20th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.33.

Kontoor Brands Stock Down 13.0 %

The company has a market capitalization of $4.14 billion, a PE ratio of 16.80, a P/E/G ratio of 2.12 and a beta of 1.19. 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 stock has a 50-day moving average of $87.05 and a 200 day moving average of $83.23.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, topping the consensus estimate of $1.31 by $0.07. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company had revenue of $699.00 million during the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the firm earned $1.28 EPS. Kontoor Brands’s revenue for the quarter was up 4.4% on a year-over-year basis. Sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, March 20th. Investors 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 46.85%.

Institutional Investors Weigh In On Kontoor Brands

Institutional investors and hedge funds have recently modified their holdings of the stock. HHM Wealth Advisors LLC purchased a new stake in Kontoor Brands during the 4th quarter valued at about $29,000. Kennebec Savings Bank purchased a new stake in shares of Kontoor Brands in the third quarter valued at $32,000. Farther Finance Advisors LLC boosted its stake in shares of Kontoor Brands by 242.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after purchasing an additional 274 shares during the period. Huntington National Bank grew its holdings in Kontoor Brands by 62.4% during the 4th 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 last quarter. Finally, 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 valued at $36,000 after buying an additional 334 shares in the last quarter. 93.06% of the stock is owned by hedge funds and other institutional investors.

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.