Burney Co. Decreases Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Burney Co. reduced its holdings in shares of Kontoor Brands, Inc. (NYSE:KTBFree Report) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 15,387 shares of the company’s stock after selling 218 shares during the quarter. Burney Co.’s holdings in Kontoor Brands were worth $676,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Kontoor Brands by 524.8% in the 2nd 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 2nd quarter valued at about $34,000. Ronald Blue Trust Inc. lifted its holdings in shares of Kontoor Brands by 225.8% in the 3rd 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. Quarry LP purchased a new stake in shares of Kontoor Brands in the 1st quarter valued at about $52,000. Finally, Gyon Technologies Capital Management LP purchased a new stake in shares of Kontoor Brands in the 4th quarter valued at about $58,000.

Wall Street Analyst Weigh In

Several research firms have commented on KTB. Wells Fargo & Company upped their price objective on Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a research note on Friday, December 22nd. Edward Jones downgraded Kontoor Brands from a “buy” rating to a “hold” rating in a research note on Friday, January 26th. 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 research note on Monday, November 6th. Stifel Nicolaus upped their price objective on Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. Finally, The Goldman Sachs Group upped their price objective on Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, December 14th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.33.

Check Out Our Latest Stock Analysis on Kontoor Brands

Kontoor Brands Stock Performance

NYSE KTB opened at $62.13 on Friday. Kontoor Brands, Inc. has a 1-year low of $37.10 and a 1-year high of $63.96. The company has a market capitalization of $3.49 billion, a P/E ratio of 16.52, a PEG ratio of 2.42 and a beta of 1.15. The business has a 50 day moving average price of $59.13 and a 200 day moving average price of $50.94. The company has a debt-to-equity ratio of 2.21, a current ratio of 2.65 and a quick ratio of 1.10.

Kontoor Brands 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.

Read More

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

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