Kontoor Brands, Inc. (NYSE:KTB) Short Interest Down 5.2% in December

Kontoor Brands, Inc. (NYSE:KTBGet Rating) was the recipient of a significant drop in short interest in the month of December. As of December 30th, there was short interest totalling 4,410,000 shares, a drop of 5.2% from the December 15th total of 4,650,000 shares. Based on an average trading volume of 484,400 shares, the short-interest ratio is presently 9.1 days. Currently, 8.1% of the company’s stock are sold short.

Kontoor Brands Stock Performance

Shares of Kontoor Brands stock opened at $45.84 on Monday. The business’s fifty day simple moving average is $42.49 and its 200 day simple moving average is $38.78. The firm has a market capitalization of $2.54 billion, a P/E ratio of 11.07, a price-to-earnings-growth ratio of 1.28 and a beta of 1.14. Kontoor Brands has a 12 month low of $30.98 and a 12 month high of $51.85. The company has a current ratio of 2.12, a quick ratio of 0.78 and a debt-to-equity ratio of 3.96.

Kontoor Brands (NYSE:KTBGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.11 EPS for the quarter, topping analysts’ consensus estimates of $0.99 by $0.12. Kontoor Brands had a return on equity of 143.05% and a net margin of 9.21%. The business had revenue of $606.52 million for the quarter, compared to analyst estimates of $630.40 million. As a group, analysts anticipate that Kontoor Brands will post 4.39 EPS for the current year.

Institutional Investors Weigh In On Kontoor Brands

Several institutional investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue boosted its position in Kontoor Brands by 0.7% during the fourth quarter. State of Alaska Department of Revenue now owns 34,357 shares of the company’s stock worth $1,373,000 after purchasing an additional 230 shares during the period. Credit Suisse AG boosted its position in Kontoor Brands by 0.6% during the second quarter. Credit Suisse AG now owns 47,091 shares of the company’s stock worth $1,571,000 after purchasing an additional 259 shares during the period. Bank of Montreal Can boosted its position in Kontoor Brands by 2.1% during the first quarter. Bank of Montreal Can now owns 17,999 shares of the company’s stock worth $771,000 after purchasing an additional 362 shares during the period. Creative Planning boosted its position in Kontoor Brands by 2.3% during the third quarter. Creative Planning now owns 18,090 shares of the company’s stock worth $608,000 after purchasing an additional 411 shares during the period. Finally, Advisor Group Holdings Inc. boosted its position in Kontoor Brands by 7.3% during the first quarter. Advisor Group Holdings Inc. now owns 6,135 shares of the company’s stock worth $295,000 after purchasing an additional 418 shares during the period.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Wells Fargo & Company reduced their price objective on Kontoor Brands from $48.00 to $44.00 and set an “overweight” rating for the company in a research note on Wednesday, October 19th. Barclays cut their target price on Kontoor Brands from $40.00 to $37.00 and set an “equal weight” rating on the stock in a research report on Monday, November 7th. Finally, The Goldman Sachs Group lifted their target price on Kontoor Brands from $36.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, December 12th. Three research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $42.17.

About Kontoor Brands

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Kontoor Brands, Inc, a lifestyle apparel company, designs, manufactures, procures, markets, and distributes denim, apparel, and accessories under the Wrangler, Lee, and Rock & Republic brands in the United States and internationally. It operates through two segments, Wrangler and Lee. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

Further Reading

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