Kontoor Brands (NYSE:KTB) Stock Price Down 8.2% – Here’s What Happened

Shares of Kontoor Brands, Inc. (NYSE:KTB) were down 8.2% on Monday . The stock traded as low as $69.77 and last traded at $70.00. Approximately 106,749 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 844,610 shares. The stock had previously closed at $76.27.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on KTB shares. Barclays boosted their price target on Kontoor Brands from $74.00 to $93.00 and gave the company an “overweight” rating in a research note on Wednesday, March 4th. BTIG Research lifted their target price on shares of Kontoor Brands from $95.00 to $100.00 and gave the company a “buy” rating in a research note on Wednesday, March 4th. UBS Group boosted their target price on shares of Kontoor Brands from $118.00 to $131.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th. Jefferies Financial Group started coverage on shares of Kontoor Brands in a report on Wednesday, February 4th. They set a “hold” rating and a $65.00 price target on the stock. Finally, Stifel Nicolaus upped their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $91.00.

Kontoor Brands Price Performance

The company has a current ratio of 1.82, a quick ratio of 0.87 and a debt-to-equity ratio of 2.01. The stock has a market cap of $3.97 billion, a price-to-earnings ratio of 17.73 and a beta of 1.15. The stock has a fifty day simple moving average of $64.07 and a 200-day simple moving average of $71.86.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, March 3rd. The company reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.08. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $975.78 million. Kontoor Brands had a net margin of 7.22% and a return on equity of 62.02%. Kontoor Brands’s revenue was up 45.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.38 earnings per share. Kontoor Brands has set its FY 2026 guidance at 6.400-6.500 EPS. As a group, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 EPS for the current year.

Kontoor Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Shareholders of record on Tuesday, March 10th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $2.12 annualized dividend and a yield of 3.0%. Kontoor Brands’s dividend payout ratio is 52.35%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Harbor Capital Advisors Inc. raised its stake in shares of Kontoor Brands by 73.0% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 308 shares of the company’s stock valued at $25,000 after buying an additional 130 shares in the last quarter. Clearstead Advisors LLC grew its stake in shares of Kontoor Brands by 2,538.5% in the 3rd quarter. Clearstead Advisors LLC now owns 343 shares of the company’s stock valued at $27,000 after purchasing an additional 330 shares during the period. Salomon & Ludwin LLC raised its holdings in shares of Kontoor Brands by 2,614.3% in the 3rd quarter. Salomon & Ludwin LLC now owns 380 shares of the company’s stock worth $31,000 after buying an additional 366 shares in the last quarter. First Horizon Corp bought a new position in shares of Kontoor Brands during the 3rd quarter worth approximately $31,000. Finally, Assetmark Inc. grew its position in Kontoor Brands by 532.3% in the third quarter. Assetmark Inc. now owns 392 shares of the company’s stock valued at $31,000 after acquiring an additional 330 shares during the period. 93.06% of the stock is owned by institutional investors.

Kontoor Brands Company Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.