Jennison Associates LLC Increases Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Jennison Associates LLC increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 4.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 792,078 shares of the company’s stock after acquiring an additional 34,652 shares during the period. Jennison Associates LLC owned approximately 1.44% of Kontoor Brands worth $67,651,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Janus Henderson Group PLC increased its stake in Kontoor Brands by 31.4% in the 3rd 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 during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Kontoor Brands in the third quarter worth approximately $332,000. International Assets Investment Management LLC increased its position in shares of Kontoor Brands by 8,078.0% in the third 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 during the last quarter. Natixis Advisors LLC raised its stake in Kontoor Brands by 6.7% in the third 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 in the last quarter. Finally, LMR Partners LLP bought a new stake in Kontoor Brands during the third quarter valued at approximately $4,799,000. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Stock Down 6.0 %

KTB opened at $86.37 on Tuesday. 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 business’s 50-day moving average price is $88.70 and its 200-day moving average price is $81.34. The company has a market cap of $4.76 billion, a P/E ratio of 19.45, a P/E/G ratio of 2.18 and a beta of 1.20.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Barclays increased 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. Wells Fargo & Company increased their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. UBS Group upped their price objective on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Guggenheim raised their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company 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 given a buy rating to the stock. According to MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and a consensus price target 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.