M&T Bank Corp Has $258,000 Stock Holdings in Kontoor Brands, Inc. (NYSE:KTB)

M&T Bank Corp lowered its position in Kontoor Brands, Inc. (NYSE:KTBFree Report) by 41.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,887 shares of the company’s stock after selling 4,153 shares during the period. M&T Bank Corp’s holdings in Kontoor Brands were worth $258,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. raised its holdings in shares of Kontoor Brands by 524.8% in the second quarter. Bessemer Group Inc. now owns 731 shares of the company’s stock valued at $31,000 after purchasing an additional 614 shares during the last quarter. West Tower Group LLC purchased a new stake in shares of Kontoor Brands in the second quarter valued at about $34,000. Quarry LP purchased a new stake in shares of Kontoor Brands in the first quarter valued at about $52,000. Ronald Blue Trust Inc. raised its holdings in shares of Kontoor Brands by 225.8% in the third quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock valued at $46,000 after purchasing an additional 761 shares during the last quarter. Finally, Gyon Technologies Capital Management LP purchased a new stake in shares of Kontoor Brands in the fourth quarter valued at about $58,000.

Kontoor Brands Price Performance

Shares of NYSE:KTB opened at $60.30 on Wednesday. The company has a quick ratio of 1.10, a current ratio of 2.65 and a debt-to-equity ratio of 2.21. The firm has a market capitalization of $3.39 billion, a PE ratio of 16.04, a P/E/G ratio of 1.48 and a beta of 1.15. Kontoor Brands, Inc. has a twelve month low of $37.10 and a twelve month high of $63.96. The company has a 50-day moving average price of $58.18 and a two-hundred day moving average price of $50.00.

Kontoor Brands (NYSE:KTBGet Free Report) last issued its earnings results on Thursday, November 2nd. The company reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. Kontoor Brands had a net margin of 8.01% and a return on equity of 75.07%. The firm had revenue of $654.54 million during the quarter, compared to analyst estimates of $642.70 million. Equities analysts forecast that Kontoor Brands, Inc. will post 4.51 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on KTB shares. Edward Jones downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays upgraded shares of Kontoor Brands from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $47.00 to $59.00 in a report on Monday, November 6th. Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Stifel Nicolaus raised their price objective on shares of Kontoor Brands from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. Finally, The Goldman Sachs Group raised their price objective on shares of Kontoor Brands from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, December 14th. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.57.

Check Out Our Latest Report on Kontoor Brands

Kontoor Brands Company Profile

(Free Report)

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. It licenses and sells apparel under the Rock & Republic brad name. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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