Entropy Technologies LP Sells 800 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Entropy Technologies LP lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 14.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,795 shares of the company’s stock after selling 800 shares during the period. Entropy Technologies LP’s holdings in Kontoor Brands were worth $410,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in KTB. Jennison Associates LLC boosted its position in Kontoor Brands by 73.2% in the third quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after buying an additional 320,117 shares in the last quarter. Walleye Capital LLC acquired a new stake in Kontoor Brands in the third quarter valued at approximately $8,479,000. Barclays PLC boosted its position in Kontoor Brands by 316.3% in the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock valued at $8,303,000 after buying an additional 77,137 shares in the last quarter. LMR Partners LLP acquired a new position in shares of Kontoor Brands during the third quarter worth $4,799,000. Finally, Pacer Advisors Inc. lifted its holdings in shares of Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after purchasing an additional 44,287 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Down 2.3 %

Kontoor Brands stock opened at $80.51 on Thursday. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The stock has a market cap of $4.44 billion, a PE ratio of 18.13, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The firm’s 50-day simple moving average is $87.83 and its 200 day simple moving average is $82.22. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Analyst Ratings Changes

A number of equities analysts have recently commented on KTB shares. Barclays lifted their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Guggenheim boosted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. UBS Group boosted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $95.00.

About Kontoor Brands

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. The company operates through two segments: Wrangler and Lee. It licenses and sells apparel under the Rock & Republic brand name.