Kontoor Brands (NYSE:KTB) Stock Price Down 6.7% – Time to Sell?

Kontoor Brands, Inc. (NYSE:KTB) shares traded down 6.7% during mid-day trading on Monday . The stock traded as low as $86.16 and last traded at $85.67. 115,104 shares were traded during mid-day trading, a decline of 73% from the average session volume of 431,573 shares. The stock had previously closed at $91.85.

Analysts Set New Price Targets

KTB has been the topic of several analyst reports. Barclays raised their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. Guggenheim raised their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company lifted their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus downgraded Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, UBS Group raised their price objective on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Up 2.5 %

The stock has a market capitalization of $4.89 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19. The business’s 50-day moving average is $88.55 and its two-hundred day moving average is $81.46. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

Hedge Funds Weigh In On Kontoor Brands

A number of institutional investors have recently added to or reduced their stakes in KTB. AQR Capital Management LLC increased its stake in shares of Kontoor Brands by 10.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,803 shares of the company’s stock worth $450,000 after acquiring an additional 659 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Kontoor Brands by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 31,959 shares of the company’s stock worth $2,114,000 after purchasing an additional 934 shares during the last quarter. Algert Global LLC purchased a new position in Kontoor Brands during the second quarter worth about $334,000. Creative Planning boosted its holdings in Kontoor Brands by 13.0% in the 2nd quarter. Creative Planning now owns 27,396 shares of the company’s stock valued at $1,812,000 after purchasing an additional 3,149 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its stake in shares of Kontoor Brands by 20.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,756 shares of the company’s stock valued at $182,000 after buying an additional 461 shares during the period. Hedge funds and other 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.