Zacks Investment Research Downgrades Kontoor Brands (NYSE:KTB) to Sell

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Zacks Investment Research lowered shares of Kontoor Brands (NYSE:KTB) from a hold rating to a sell rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “Kontoor Brands Inc. is an apparel company. It designs, manufactures and distributes products. The company’s brand consists of Wrangler(R), Lee(R) and Rock & Republic(R). Kontoor Brands Inc. is based in Greensboro, United States. “

Several other research firms have also recently issued reports on KTB. Odeon Capital Group began coverage on Kontoor Brands in a research report on Thursday, January 23rd. They set a buy rating and a $46.00 price objective for the company. ValuEngine raised Kontoor Brands from a sell rating to a hold rating in a research report on Thursday, December 5th. Edward Jones raised Kontoor Brands from a hold rating to a buy rating in a research report on Monday, December 2nd. Stifel Nicolaus cut Kontoor Brands from a buy rating to a hold rating and set a $43.00 price objective for the company. in a research report on Tuesday, February 18th. Finally, Barclays began coverage on Kontoor Brands in a research report on Tuesday, November 12th. They set an equal weight rating and a $35.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. Kontoor Brands has an average rating of Hold and an average target price of $33.06.

NYSE:KTB opened at $38.78 on Thursday. The stock has a 50-day simple moving average of $40.74 and a 200-day simple moving average of $37.38. Kontoor Brands has a 1 year low of $25.78 and a 1 year high of $43.24. The company has a quick ratio of 1.07, a current ratio of 2.47 and a debt-to-equity ratio of 18.80.

The company also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Tuesday, March 10th will be issued a $0.56 dividend. This represents a $2.24 annualized dividend and a dividend yield of 5.78%. The ex-dividend date is Monday, March 9th.

Several institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its holdings in shares of Kontoor Brands by 4.8% in the 4th quarter. Oppenheimer Asset Management Inc. now owns 7,209 shares of the company’s stock valued at $303,000 after purchasing an additional 328 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. lifted its holdings in shares of Kontoor Brands by 4.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 7,504 shares of the company’s stock valued at $305,000 after purchasing an additional 333 shares during the last quarter. Mason Street Advisors LLC lifted its holdings in shares of Kontoor Brands by 2.2% in the 3rd quarter. Mason Street Advisors LLC now owns 15,837 shares of the company’s stock valued at $556,000 after purchasing an additional 334 shares during the last quarter. GW Henssler & Associates Ltd. lifted its holdings in shares of Kontoor Brands by 2.4% in the 3rd quarter. GW Henssler & Associates Ltd. now owns 17,656 shares of the company’s stock valued at $620,000 after purchasing an additional 409 shares during the last quarter. Finally, Signaturefd LLC lifted its holdings in shares of Kontoor Brands by 117.8% in the 4th quarter. Signaturefd LLC now owns 821 shares of the company’s stock valued at $34,000 after purchasing an additional 444 shares during the last quarter. 86.86% of the stock is owned by institutional investors and hedge funds.

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Analyst Recommendations for Kontoor Brands (NYSE:KTB)

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