Level Wealth Management LLC Acquires New Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Level Wealth Management LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 4,102 shares of the company’s stock, valued at approximately $350,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Janus Henderson Group PLC increased its position in shares of Kontoor Brands by 31.4% during the third quarter. Janus Henderson Group PLC now owns 47,474 shares of the company’s stock worth $3,883,000 after acquiring an additional 11,337 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in Kontoor Brands in the 3rd quarter worth $332,000. International Assets Investment Management LLC increased its holdings in Kontoor Brands by 8,078.0% during the 3rd quarter. International Assets Investment Management LLC now owns 28,623 shares of the company’s stock worth $2,341,000 after purchasing an additional 28,273 shares in the last quarter. Natixis Advisors LLC raised its stake in shares of Kontoor Brands by 6.7% in the 3rd quarter. Natixis Advisors LLC now owns 17,383 shares of the company’s stock valued at $1,422,000 after purchasing an additional 1,087 shares during the period. Finally, Jennison Associates LLC lifted its holdings in shares of 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 purchasing an additional 320,117 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

KTB has been the subject of a number of research reports. Wells Fargo & Company increased their price objective on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. UBS Group raised their price target on shares of 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 downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price objective for the company from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim increased their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Barclays lifted their price target on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Trading Down 3.8 %

NYSE KTB opened at $91.96 on Friday. Kontoor Brands, Inc. has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The stock has a 50 day moving average of $88.70 and a 200-day moving average of $81.25. The company has a market cap of $5.07 billion, a PE ratio of 20.71, a PEG ratio of 2.20 and a beta of 1.20.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Thursday, October 31st. The company reported $1.37 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The firm had revenue of $670.19 million during the quarter, compared to analysts’ expectations of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.22 earnings per share. On average, equities research analysts anticipate that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

Insider Activity

In other Kontoor Brands news, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the completion of the transaction, the chief executive officer now directly owns 331,916 shares of the company’s stock, valued at $27,748,177.60. The trade was a 26.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.60% of the stock is owned by insiders.

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.