M&T Bank Corp Sells 4,153 Shares of Kontoor Brands, Inc. (NYSE:KTB)

M&T Bank Corp decreased its position in shares of Kontoor Brands, Inc. (NYSE:KTBFree Report) by 41.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,887 shares of the company’s stock after selling 4,153 shares during the period. M&T Bank Corp’s holdings in Kontoor Brands were worth $258,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its stake in Kontoor Brands by 524.8% during the 2nd quarter. Bessemer Group Inc. now owns 731 shares of the company’s stock worth $31,000 after acquiring an additional 614 shares during the period. West Tower Group LLC purchased a new stake in Kontoor Brands during the 2nd quarter valued at approximately $34,000. Quarry LP purchased a new stake in Kontoor Brands during the 1st quarter valued at approximately $52,000. Ronald Blue Trust Inc. grew its holdings in Kontoor Brands by 225.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock valued at $46,000 after buying an additional 761 shares in the last quarter. Finally, Gyon Technologies Capital Management LP purchased a new stake in Kontoor Brands during the 4th quarter valued at approximately $58,000.

Analyst Ratings Changes

KTB has been the subject of a number of research analyst reports. Edward Jones lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $56.00 to $68.00 and gave the company an “overweight” rating in a report on Friday, December 22nd. Barclays raised shares of Kontoor Brands from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $47.00 to $59.00 in a report on Monday, November 6th. Stifel Nicolaus increased their price objective on shares of Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, The Goldman Sachs Group raised their target price on shares of Kontoor Brands from $60.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, December 14th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.57.

Get Our Latest Report on KTB

Kontoor Brands Trading Down 1.9 %

KTB stock opened at $60.30 on Wednesday. The firm has a fifty day moving average price of $58.18 and a 200 day moving average price of $50.00. Kontoor Brands, Inc. has a fifty-two week low of $37.10 and a fifty-two week high of $63.96. The company has a debt-to-equity ratio of 2.21, a quick ratio of 1.10 and a current ratio of 2.65. The firm has a market cap of $3.39 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.48 and a beta of 1.15.

Kontoor Brands (NYSE:KTBGet Free Report) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $1.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.09. The company had revenue of $654.54 million during the quarter, compared to the consensus estimate of $642.70 million. Kontoor Brands had a return on equity of 75.07% and a net margin of 8.01%. Sell-side analysts anticipate that Kontoor Brands, Inc. will post 4.51 earnings per share for the current fiscal year.

Kontoor Brands Company Profile

(Free Report)

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. It licenses and sells apparel under the Rock & Republic brad name. The company sells its products primarily through mass merchants, specialty stores, mid-tier and traditional department stores, company-operated stores, and online.

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Institutional Ownership by Quarter for Kontoor Brands (NYSE:KTB)

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