Kontoor Brands, Inc. $KTB Shares Sold by Versor Investments LP

Versor Investments LP reduced its position in Kontoor Brands, Inc. (NYSE:KTB) by 54.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,205 shares of the company’s stock after selling 8,495 shares during the quarter. Versor Investments LP’s holdings in Kontoor Brands were worth $575,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Azzad Asset Management Inc. ADV increased its holdings in shares of Kontoor Brands by 3.4% in the 3rd quarter. Azzad Asset Management Inc. ADV now owns 40,216 shares of the company’s stock valued at $3,208,000 after acquiring an additional 1,305 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in Kontoor Brands by 16.1% during the third quarter. Smartleaf Asset Management LLC now owns 1,640 shares of the company’s stock worth $129,000 after purchasing an additional 227 shares during the last quarter. Alps Advisors Inc. acquired a new position in Kontoor Brands in the third quarter worth $449,000. BI Asset Management Fondsmaeglerselskab A S increased its stake in Kontoor Brands by 3.9% during the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 37,314 shares of the company’s stock valued at $2,977,000 after purchasing an additional 1,395 shares during the last quarter. Finally, Optimize Financial Inc acquired a new stake in shares of Kontoor Brands during the third quarter worth $593,000. Institutional investors own 93.06% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on KTB. BTIG Research reaffirmed a “buy” rating and issued a $95.00 price target on shares of Kontoor Brands in a report on Tuesday, November 4th. Robert W. Baird began coverage on shares of Kontoor Brands in a report on Friday, October 17th. They issued an “outperform” rating and a $105.00 target price on the stock. Stifel Nicolaus upped their target price on Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a report on Tuesday, November 4th. Wall Street Zen downgraded Kontoor Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Jefferies Financial Group assumed coverage on Kontoor Brands in a research report on Wednesday, February 4th. They set a “hold” rating and a $65.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $84.67.

Kontoor Brands Stock Performance

KTB opened at $67.42 on Thursday. The company has a current ratio of 1.91, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. The business’s 50 day moving average is $63.09 and its 200-day moving average is $71.19. The stock has a market cap of $3.75 billion, a PE ratio of 17.38 and a beta of 1.19. Kontoor Brands, Inc. has a twelve month low of $50.00 and a twelve month high of $91.85.

Kontoor Brands Profile

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.