Kontoor Brands Inc’s filing revealed that its Chair, President and CEO Baxter Scott H unloaded Company’s shares for reported $6.79 million on Mar 01 ’24. In the deal valued at $59.09 per share,114,966 shares were sold. As a result of this transaction, Baxter Scott H now holds 291,175 shares worth roughly $16.42 million.
Then, Sumner Susan Denise sold 13,288 shares, generating $725,453 in total proceeds. Upon selling the shares at $54.60, the VP & Chief Accounting Officer now owns 13,212 shares.
Edward Jones downgraded its Kontoor Brands Inc [KTB] rating to a Hold from a a Buy in a research note published recently. A number of analysts have revised their coverage, including Barclays’s analysts, who increased its forecast for the stock in early November from “an Equal weight” to “an Overweight”. Goldman also remained covering KTB and has increased its forecast on October 19, 2023 with a “Buy” recommendation from previously “Neutral” rating. Stifel revised its rating on March 01, 2023. It rated KTB as “a Buy” which previously was an “a Hold”.
Price Performance Review of KTB
On Friday, Kontoor Brands Inc [NYSE:KTB] saw its stock fall -1.07% to $56.38. Over the last five days, the stock has lost -6.42%. Kontoor Brands Inc shares have fallen nearly -9.68% since the year began. Nevertheless, the stocks have risen 16.30% over the past one year. While a 52-week high of $64.49 was reached on 02/23/24, a 52-week low of $37.10 was recorded on 02/28/24. SMA at 50 days reached $60.11, while 200 days put it at $51.36. A total of 0.56 million shares were traded, compared to the trading of 0.42 million shares in the previous session.
Levels Of Support And Resistance For KTB Stock
The 24-hour chart illustrates a support level at 55.89, which if violated will result in even more drops to 55.41. On the upside, there is a resistance level at 57.01. A further resistance level may holdings at 57.65. The Relative Strength Index (RSI) on the 14-day chart is 38.73, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 92.78%. Stochastics %K at 14.38% indicates the stock is a buying.
How much short interest is there in Kontoor Brands Inc?
A steep rise in short interest was recorded in Kontoor Brands Inc stocks on Mar 15, 2024, growing by 0.58 million shares to a total of 3.11 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 2.53 million shares. There was a rise of 18.65%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.68% of the overall stock float, the days-to-cover ratio (short ratio) rose to 3.46.
The most recent change occurred on July 11, 2022 when Wells Fargo began covering the stock and recommended ‘”an Overweight”‘ rating along with a $40 price target.
