Jones Financial Companies Lllp Grows Stock Holdings in Kontoor Brands, Inc. $KTB

Jones Financial Companies Lllp grew its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 12.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,785 shares of the company’s stock after acquiring an additional 9,275 shares during the period. Jones Financial Companies Lllp owned about 0.15% of Kontoor Brands worth $6,907,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Royal Bank of Canada lifted its holdings in Kontoor Brands by 29.1% in the 1st quarter. Royal Bank of Canada now owns 105,895 shares of the company’s stock worth $6,793,000 after buying an additional 23,880 shares during the period. AQR Capital Management LLC raised its holdings in shares of Kontoor Brands by 49.3% during the first quarter. AQR Capital Management LLC now owns 14,641 shares of the company’s stock valued at $939,000 after acquiring an additional 4,836 shares in the last quarter. Integrated Wealth Concepts LLC lifted its stake in Kontoor Brands by 250.8% in the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock worth $602,000 after acquiring an additional 6,712 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Kontoor Brands by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company’s stock valued at $2,102,000 after acquiring an additional 1,432 shares in the last quarter. Finally, Millennium Management LLC increased its position in Kontoor Brands by 222.5% during the 1st quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock valued at $10,026,000 after purchasing an additional 107,855 shares during the period. 93.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on KTB shares. Robert W. Baird started coverage on shares of Kontoor Brands in a research report on Friday, October 17th. They issued an “outperform” rating and a $105.00 target price for the company. BNP Paribas Exane set a $50.00 price objective on shares of Kontoor Brands in a report on Tuesday, December 9th. Wells Fargo & Company cut their price objective on Kontoor Brands from $100.00 to $95.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. BTIG Research reiterated a “buy” rating and set a $95.00 target price on shares of Kontoor Brands in a report on Tuesday, November 4th. Finally, Wall Street Zen cut Kontoor Brands from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Kontoor Brands has a consensus rating of “Moderate Buy” and an average target price of $84.67.

Kontoor Brands Price Performance

KTB stock opened at $65.55 on Friday. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 1.91. The firm has a 50 day moving average price of $63.79 and a 200-day moving average price of $71.04. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $91.85. The firm has a market capitalization of $3.64 billion, a price-to-earnings ratio of 16.89 and a beta of 1.19.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Monday, November 3rd. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.09. Kontoor Brands had a return on equity of 63.21% and a net margin of 7.68%.The company had revenue of $853.22 million during the quarter, compared to analyst estimates of $879.10 million. During the same quarter last year, the company earned $1.37 EPS. The firm’s revenue for the quarter was up 27.3% on a year-over-year basis. Equities research analysts forecast that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

About Kontoor Brands

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.