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

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

Several other research firms also recently commented on KTB. UBS Group decreased their target price on shares of Kontoor Brands from $112.00 to $108.00 and set a “buy” rating for the company in a research report on Tuesday. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim raised their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays lifted their target price 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 investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $96.33.

Kontoor Brands Stock Performance

Shares of KTB stock opened at $88.01 on Thursday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a fifty day simple moving average of $87.14 and a two-hundred day simple moving average of $82.78. Kontoor Brands has a 12 month low of $52.95 and a 12 month high of $96.80. The firm has a market capitalization of $4.85 billion, a PE ratio of 19.82, a price-to-earnings-growth ratio of 2.12 and a beta of 1.19.

Institutional Trading of Kontoor Brands

A number of hedge funds have recently bought and sold shares of the business. State Street Corp increased its position in shares of Kontoor Brands by 1.2% during the 3rd quarter. State Street Corp now owns 2,205,592 shares of the company’s stock valued at $180,373,000 after purchasing an additional 26,759 shares during the last quarter. Pacer Advisors Inc. increased its holdings in Kontoor Brands by 2.5% during the fourth quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company’s stock worth $152,564,000 after buying an additional 44,287 shares during the last quarter. Geode Capital Management LLC increased its holdings in Kontoor Brands by 16.6% during the fourth 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. Ameriprise Financial Inc. raised its position in Kontoor Brands by 11.8% in the fourth quarter. Ameriprise Financial Inc. now owns 1,355,286 shares of the company’s stock worth $115,755,000 after acquiring an additional 142,956 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Kontoor Brands by 0.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,267,431 shares of the company’s stock valued at $108,252,000 after acquiring an additional 5,207 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Company 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.