The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Kontoor Brands Inc shares valued at $6,793,801 were sold by Baxter Scott H on Mar 01 ’24. At $59.09 per share, Baxter Scott H sold 114,966 shares. The insider’s holdings dropped to 291,175 shares worth approximately $18.09 million following the completion of this transaction.
Also, Sumner Susan Denise sold 13,288 shares, netting a total of over 725,453 in proceeds. Following the sale of shares at $54.60 each, the insider now holds 13,212 shares.
As published in a research note from Edward Jones on January 26, 2024, Kontoor Brands Inc [KTB] has been rated down from a Buy to a Hold. Analysts at Barclays upgraded the stock from ‘”an Equal weight”‘ to ‘”an Overweight”‘ outlook in a report released in early November. As of October 19, 2023, Goldman has increased its “Neutral” rating to a “Buy” for KTB. Earlier on March 01, 2023, Stifel upgraded its rating. Their new recommendation was “a Buy” for KTB stock which previously was a “a Hold”.
Analyzing KTB Stock Performance
During the last five days, there has been a surge of approximately 0.45%. Over the course of the year, Kontoor Brands Inc shares have dropped approximately -0.45%. Shares of the company reached a 52-week high of $64.49 on 02/23/24 and a 52-week low of $52.95 on 04/12/24. A 50-day SMA is recorded $59.03, while a 200-day SMA reached $52.91. Nevertheless, trading volume fell to 0.78 million shares from 0.46 million shares the previous day.
Support And Resistance Levels for Kontoor Brands Inc (KTB)
According to the 24-hour chart, there is a support level at 61.09, which, if violated, would cause prices to drop to 60.03. In the upper region, resistance lies at 63.17. The next price resistance is at 64.19. RSI (Relative Strength Index) is 63.43 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.05, which suggests the price will increase in the coming days. Percent R is at 16.38%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
