Kontoor Brands (NYSE:KTB) Hits New 12-Month Low – What’s Next?

Shares of Kontoor Brands, Inc. (NYSE:KTB) hit a new 52-week low on Tuesday . The stock traded as low as $51.75 and last traded at $52.20, with a volume of 1225745 shares trading hands. The stock had previously closed at $56.08.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. UBS Group lowered their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. Barclays lowered their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Finally, Wells Fargo & Company reduced their price objective on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Kontoor Brands presently has an average rating of “Moderate Buy” and an average target price of $91.50.

Kontoor Brands Trading Down 6.9 %

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 company has a market capitalization of $2.89 billion, a P/E ratio of 11.76, a P/E/G ratio of 2.12 and a beta of 0.93. The firm’s 50-day moving average price is $72.78 and its 200 day moving average price is $81.12.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, February 25th. The company reported $1.38 EPS for the quarter, beating analysts’ consensus estimates of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The business had revenue of $699.00 million during the quarter, compared to analyst estimates of $698.07 million. During the same period in the prior year, the firm posted $1.28 EPS. Kontoor Brands’s quarterly revenue was up 4.4% compared to the same quarter last year. As a group, equities research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 20th. Investors of record on Monday, March 10th were paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.98%. The ex-dividend date was Monday, March 10th. Kontoor Brands’s payout ratio is currently 47.60%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in KTB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Kontoor Brands by 2.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 118,225 shares of the company’s stock worth $9,668,000 after purchasing an additional 3,044 shares during the period. HighTower Advisors LLC grew its position in Kontoor Brands by 35.6% during the third quarter. HighTower Advisors LLC now owns 6,097 shares of the company’s stock worth $497,000 after buying an additional 1,602 shares in the last quarter. Janus Henderson Group PLC increased its stake in Kontoor Brands by 31.4% in the 3rd quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after acquiring an additional 11,337 shares during the last quarter. State Street Corp increased its stake in Kontoor Brands by 1.2% in the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock worth $180,373,000 after acquiring an additional 26,759 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd raised its holdings in shares of Kontoor Brands by 156.3% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 12,652 shares of the company’s stock valued at $1,035,000 after acquiring an additional 7,715 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

About Kontoor Brands

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.