Arizona State Retirement System Has $631,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Arizona State Retirement System increased its position in Kontoor Brands, Inc. (NYSE:KTBFree Report) by 2.4% in the 3rd quarter, Holdings Channel reports. The firm owned 14,370 shares of the company’s stock after buying an additional 335 shares during the quarter. Arizona State Retirement System’s holdings in Kontoor Brands were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Illinois Municipal Retirement Fund bought a new position in Kontoor Brands during the third quarter worth about $1,319,000. Victory Capital Management Inc. increased its position in shares of Kontoor Brands by 402.9% during the 3rd quarter. Victory Capital Management Inc. now owns 1,001,262 shares of the company’s stock worth $43,965,000 after purchasing an additional 802,166 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Kontoor Brands by 9.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 56,100 shares of the company’s stock worth $2,463,000 after purchasing an additional 4,728 shares during the last quarter. Mesirow Institutional Investment Management Inc. increased its position in shares of Kontoor Brands by 3.8% during the 3rd quarter. Mesirow Institutional Investment Management Inc. now owns 340,354 shares of the company’s stock worth $14,945,000 after purchasing an additional 12,568 shares during the last quarter. Finally, Baron Wealth Management LLC acquired a new position in shares of Kontoor Brands during the 3rd quarter worth approximately $680,000.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. The Goldman Sachs Group boosted their price target on Kontoor Brands from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Thursday, December 14th. Wells Fargo & Company boosted their target price on Kontoor Brands from $56.00 to $68.00 and gave the stock an “overweight” rating in a report on Friday, December 22nd. Stifel Nicolaus upped their price objective on Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Barclays raised Kontoor Brands from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $47.00 to $59.00 in a report on Monday, November 6th. Finally, Edward Jones lowered Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.33.

Read Our Latest Stock Report on KTB

Kontoor Brands Stock Performance

NYSE:KTB opened at $61.83 on Friday. The stock has a fifty day moving average price of $58.97 and a 200-day moving average price of $50.79. The company has a market cap of $3.47 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.35 and a beta of 1.15. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.10 and a current ratio of 2.65. Kontoor Brands, Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $63.96.

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.

Further Reading

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

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