In a filing, Kontoor Brands Inc revealed 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 $15.71 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 -0.50% to $53.96. Over the last five days, the stock has lost -4.29%. Kontoor Brands Inc shares have fallen nearly -13.55% since the year began. Nevertheless, the stocks have risen 15.30% 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 04/12/24. SMA at 50 days reached $59.58, while 200 days put it at $51.70. A total of 0.53 million shares were traded, compared to the trading of 0.47 million shares in the previous session.
Levels Of Support And Resistance For KTB Stock
The 24-hour chart illustrates a support level at 53.26, which if violated will result in even more drops to 52.55. On the upside, there is a resistance level at 54.36. A further resistance level may holdings at 54.75. The Relative Strength Index (RSI) on the 14-day chart is 32.06, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -3.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 87.05%. Stochastics %K at 8.18% indicates the stock is a buying.
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.
