Wells Fargo & Company Increases Kontoor Brands (NYSE:KTB) Price Target to $100.00

Kontoor Brands (NYSE:KTB) had its target price raised by equities researchers at Wells Fargo & Company from $95.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 13.63% from the stock’s previous close.

Other analysts have also issued research reports about the stock. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price target for the company from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim boosted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. UBS Group dropped their target price on Kontoor Brands from $112.00 to $108.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Barclays lifted their price target on Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.33.

Kontoor Brands Trading Down 1.7 %

Shares of KTB opened at $88.01 on Thursday. The firm has a market cap of $4.85 billion, a P/E ratio of 19.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19. Kontoor Brands has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The business has a 50-day moving average of $87.14 and a 200 day moving average of $82.78.

Institutional Investors Weigh In On Kontoor Brands

Several large investors have recently added to or reduced their stakes in KTB. Jennison Associates LLC raised its holdings in shares of Kontoor Brands by 73.2% in the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company’s stock valued at $61,942,000 after acquiring an additional 320,117 shares in the last quarter. Marshall Wace LLP raised its stake in Kontoor Brands by 97.3% in the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company’s stock valued at $49,524,000 after purchasing an additional 285,897 shares in the last quarter. Man Group plc lifted its position in Kontoor Brands by 119.1% during the fourth quarter. Man Group plc now owns 466,065 shares of the company’s stock valued at $39,807,000 after purchasing an additional 253,360 shares during the last quarter. Norges Bank purchased a new position in Kontoor Brands in the 4th quarter worth approximately $17,630,000. Finally, Geode Capital Management LLC increased its holdings in shares of Kontoor Brands by 16.6% in the 4th quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock worth $119,827,000 after buying an additional 199,601 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

About Kontoor Brands

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.