State of Alaska Department of Revenue Reduces Position in Kontoor Brands, Inc. (NYSE:KTB)

State of Alaska Department of Revenue lessened its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 1.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 28,204 shares of the company’s stock after selling 396 shares during the quarter. State of Alaska Department of Revenue’s holdings in Kontoor Brands were worth $2,408,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. State Street Corp boosted its position in shares of Kontoor Brands by 1.2% during the third quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after buying an additional 26,759 shares during the period. Pacer Advisors Inc. boosted its position 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 valued at $152,564,000 after buying an additional 44,287 shares during the period. Geode Capital Management LLC boosted its position in shares of Kontoor Brands by 1.3% during the third quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock valued at $98,409,000 after buying an additional 15,058 shares during the period. Jennison Associates LLC boosted its position in shares of Kontoor Brands by 4.6% during the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock valued at $67,651,000 after buying an additional 34,652 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Kontoor Brands by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 661,394 shares of the company’s stock valued at $54,089,000 after purchasing an additional 17,974 shares during the period. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $84.33 on Tuesday. The business’s fifty day simple moving average is $88.26 and its 200-day simple moving average is $82.00. The company has a market cap of $4.65 billion, a PE ratio of 18.99, a PEG ratio of 2.08 and a beta of 1.19. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80.

Analyst Upgrades and Downgrades

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

Kontoor Brands Profile

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.