Azzad Asset Management Inc. ADV Sells 136 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Azzad Asset Management Inc. ADV cut its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 0.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 36,074 shares of the company’s stock after selling 136 shares during the quarter. Azzad Asset Management Inc. ADV owned 0.07% of Kontoor Brands worth $2,950,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in Kontoor Brands by 1.2% in the 3rd 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 last quarter. Pacer Advisors Inc. grew its stake 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 buying an additional 44,287 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kontoor Brands by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,203,100 shares of the company’s stock worth $98,409,000 after purchasing an additional 15,058 shares in the last quarter. Jennison Associates LLC grew its holdings in Kontoor Brands by 4.6% during the 4th quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock worth $67,651,000 after acquiring an additional 34,652 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in 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. 93.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Kontoor Brands Stock Performance

Shares of KTB stock opened at $82.43 on Wednesday. The company has a market capitalization of $4.54 billion, a P/E ratio of 18.56, a PEG ratio of 2.08 and a beta of 1.19. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The stock has a 50 day moving average price of $88.07 and a two-hundred day moving average price of $82.13.

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.