Entropy Technologies LP Sells 800 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Entropy Technologies LP decreased its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB) by 14.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,795 shares of the company’s stock after selling 800 shares during the period. Entropy Technologies LP’s holdings in Kontoor Brands were worth $410,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in KTB. AQR Capital Management LLC increased its position in shares of Kontoor Brands by 10.7% in the 2nd quarter. AQR Capital Management LLC now owns 6,803 shares of the company’s stock valued at $450,000 after buying an additional 659 shares in the last quarter. SG Americas Securities LLC increased its holdings in Kontoor Brands by 55.6% during the 3rd quarter. SG Americas Securities LLC now owns 5,516 shares of the company’s stock worth $451,000 after purchasing an additional 1,972 shares in the last quarter. GAMMA Investing LLC increased its holdings in Kontoor Brands by 53.5% during the 3rd quarter. GAMMA Investing LLC now owns 700 shares of the company’s stock worth $57,000 after purchasing an additional 244 shares in the last quarter. Ritholtz Wealth Management bought a new position in Kontoor Brands during the 3rd quarter worth about $491,000. Finally, Blue Trust Inc. increased its holdings in Kontoor Brands by 41.0% during the 3rd quarter. Blue Trust Inc. now owns 2,215 shares of the company’s stock worth $181,000 after purchasing an additional 644 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Wells Fargo & Company increased their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group increased their price objective on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and increased their price objective for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Barclays raised their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Guggenheim raised their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research note 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Stock Down 2.3 %

Kontoor Brands stock opened at $80.51 on Thursday. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. The company’s 50-day moving average price is $87.83 and its two-hundred day moving average price is $82.22. The stock has a market cap of $4.44 billion, a P/E ratio of 18.13, a P/E/G ratio of 2.08 and a beta of 1.19. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09.

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.