Stephens Inc. AR Purchases 330 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Stephens Inc. AR boosted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 11.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,198 shares of the company’s stock after purchasing an additional 330 shares during the period. Stephens Inc. AR’s holdings in Kontoor Brands were worth $205,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Xponance Inc. increased its stake in shares of Kontoor Brands by 5.1% during the first quarter. Xponance Inc. now owns 4,230 shares of the company’s stock valued at $271,000 after buying an additional 205 shares during the period. Kesler Norman & Wride LLC increased its stake in shares of Kontoor Brands by 16.8% during the first quarter. Kesler Norman & Wride LLC now owns 10,883 shares of the company’s stock valued at $698,000 after buying an additional 1,567 shares during the period. Allworth Financial LP increased its stake in shares of Kontoor Brands by 192.7% during the first quarter. Allworth Financial LP now owns 8,344 shares of the company’s stock valued at $521,000 after buying an additional 5,493 shares during the period. Financial Counselors Inc. increased its stake in shares of Kontoor Brands by 38.9% during the first quarter. Financial Counselors Inc. now owns 7,145 shares of the company’s stock valued at $458,000 after buying an additional 2,002 shares during the period. Finally, TD Private Client Wealth LLC increased its stake in shares of Kontoor Brands by 12.7% during the first quarter. TD Private Client Wealth LLC now owns 1,797 shares of the company’s stock valued at $115,000 after buying an additional 203 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on KTB. UBS Group lifted their price target on Kontoor Brands from $83.00 to $92.00 and gave the company a “buy” rating in a research report on Wednesday, May 7th. The Goldman Sachs Group set a $85.00 price target on Kontoor Brands and gave the company a “buy” rating in a research report on Tuesday, June 10th. Barclays lifted their price target on Kontoor Brands from $75.00 to $86.00 and gave the company an “overweight” rating in a research report on Tuesday, May 20th. Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research report on Thursday, April 10th. Finally, Wells Fargo & Company boosted their target price on Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $87.50.

Kontoor Brands Trading Down 1.2%

Kontoor Brands stock opened at $64.15 on Monday. The company has a current ratio of 2.78, a quick ratio of 1.65 and a debt-to-equity ratio of 1.72. The business’s fifty day simple moving average is $68.28 and its two-hundred day simple moving average is $70.57. Kontoor Brands, Inc. has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 15.72, a price-to-earnings-growth ratio of 1.54 and a beta of 1.12.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The firm had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a return on equity of 71.33% and a net margin of 8.82%. The company’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.16 earnings per share. As a group, equities analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

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.