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

Kontoor Brands, Inc. (NYSE:KTB) saw a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 3,030,000 shares, a decline of 5.9% from the January 15th total of 3,220,000 shares. Based on an average daily volume of 443,200 shares, the days-to-cover ratio is currently 6.8 days. Currently, 5.6% of the company’s stock are short sold.

Kontoor Brands Stock Up 2.5 %

Shares of Kontoor Brands stock opened at $85.86 on Wednesday. The stock has a 50 day moving average price of $87.18 and a two-hundred day moving average price of $82.57. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The stock has a market capitalization of $4.73 billion, a P/E ratio of 19.34, a PEG ratio of 1.98 and a beta of 1.19.

Kontoor Brands Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, March 20th. Shareholders of record on Monday, March 10th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date is Monday, March 10th. Kontoor Brands’s dividend payout ratio is 46.85%.

Institutional Investors Weigh In On Kontoor Brands

Hedge funds and other institutional investors have recently made changes to their positions in the business. Vise Technologies Inc. boosted its stake in Kontoor Brands by 16.5% during the 4th quarter. Vise Technologies Inc. now owns 3,777 shares of the company’s stock valued at $323,000 after purchasing an additional 535 shares during the period. PharVision Advisers LLC bought a new stake in shares of Kontoor Brands in the fourth quarter valued at approximately $249,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Kontoor Brands by 16.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 137,148 shares of the company’s stock worth $11,714,000 after acquiring an additional 18,923 shares during the last quarter. Squarepoint Ops LLC increased its position in Kontoor Brands by 161.6% during the fourth quarter. Squarepoint Ops LLC now owns 116,277 shares of the company’s stock worth $9,931,000 after acquiring an additional 71,830 shares during the period. Finally, Two Sigma Advisers LP acquired a new position in Kontoor Brands during the 4th quarter valued at $401,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Guggenheim upped their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays upped their price objective 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. UBS Group decreased their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company upped their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $89.00 to $93.00 in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $94.67.

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.