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 $380,077 were sold by Sumner Susan Denise on May 31 ’24. At $73.71 per share, Sumner Susan Denise sold 5,156 shares. The insider’s holdings dropped to 10,223 shares worth approximately $0.72 million following the completion of this transaction.
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Also, Baxter Scott H sold 25,332 shares, netting a total of over 1,825,095 in proceeds. Following the sale of shares at $72.05 each, the insider now holds 318,188 shares.
Before that, Sumner Susan Denise had sold 4,713 shares from its account. In a trade valued at $341,042, the VP & Chief Accounting Officer traded Kontoor Brands Inc shares for $72.36 each. Upon closing the transaction, the insider’s holdings decreased to 4,713 shares, worth approximately $1.08 million.
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 drop of approximately -5.39%. Over the course of the year, Kontoor Brands Inc shares have jumped approximately 12.19%. Shares of the company reached a 52-week high of $74.90 on 06/05/24 and a 52-week low of $52.95 on 04/12/24. A 50-day SMA is recorded $65.16, while a 200-day SMA reached $56.60. Nevertheless, trading volume fell to 0.64 million shares from 0.35 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 69.27, which, if violated, would cause prices to drop to 68.52. In the upper region, resistance lies at 71.50. The next price resistance is at 72.98. RSI (Relative Strength Index) is 49.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.46, which suggests the price will decrease in the coming days. Percent R is at 99.19%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
