New York State Common Retirement Fund Purchases 15,465 Shares of Kontoor Brands, Inc. $KTB

New York State Common Retirement Fund lifted its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 89.5% in the third quarter, HoldingsChannel.com reports. The firm owned 32,739 shares of the company’s stock after purchasing an additional 15,465 shares during the period. New York State Common Retirement Fund’s holdings in Kontoor Brands were worth $2,612,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares 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 increased its stake 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 buying an additional 4,836 shares during the period. Integrated Wealth Concepts LLC raised its holdings in shares of Kontoor Brands by 250.8% during the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company’s stock valued at $602,000 after acquiring an additional 6,712 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake 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 worth $2,102,000 after acquiring an additional 1,432 shares during the period. Finally, Millennium Management LLC boosted its holdings in Kontoor Brands by 222.5% in the first quarter. Millennium Management LLC now owns 156,332 shares of the company’s stock valued at $10,026,000 after acquiring an additional 107,855 shares in the last quarter. Hedge funds and other institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Shares of KTB opened at $67.05 on Monday. The stock has a market cap of $3.73 billion, a PE ratio of 17.28 and a beta of 1.19. The company has a debt-to-equity ratio of 2.53, a quick ratio of 0.82 and a current ratio of 1.91. Kontoor Brands, Inc. has a fifty-two week low of $50.00 and a fifty-two week high of $91.85. The firm’s 50-day simple moving average is $63.64 and its two-hundred day simple moving average is $71.16.

Analyst Ratings Changes

Several research analysts have commented on KTB shares. UBS Group upped their price objective on shares of Kontoor Brands from $114.00 to $118.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Robert W. Baird initiated coverage on shares of Kontoor Brands in a research note on Friday, October 17th. They issued an “outperform” rating and a $105.00 price target for the company. Jefferies Financial Group started coverage on shares of Kontoor Brands in a report on Wednesday, February 4th. They issued a “hold” rating and a $65.00 price objective for the company. Wall Street Zen downgraded Kontoor Brands from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Stifel Nicolaus raised their target price on Kontoor Brands from $73.00 to $75.00 and gave the company a “hold” rating in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $84.67.

Kontoor Brands Profile

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.