Optimist Retirement Group LLC Has $236,000 Stock Position in Kontoor Brands, Inc. (NYSE:KTB)

Optimist Retirement Group LLC lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 30.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,763 shares of the company’s stock after selling 1,220 shares during the quarter. Optimist Retirement Group LLC’s holdings in Kontoor Brands were worth $236,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC bought a new stake in Kontoor Brands in the 4th quarter valued at $29,000. Northwest Investment Counselors LLC acquired a new stake in shares of Kontoor Brands in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake in shares of Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares during the period. Kennebec Savings Bank bought a new stake in shares of Kontoor Brands in the third quarter valued at about $32,000. Finally, Fortitude Family Office LLC boosted its position in shares of Kontoor Brands by 407.3% during the fourth quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock worth $36,000 after buying an additional 334 shares during the period. Institutional investors and hedge funds own 93.06% of the company’s stock.

Wall Street Analysts Forecast Growth

KTB has been the topic of a number of recent research reports. Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and boosted their target price for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Guggenheim boosted their price objective on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. UBS Group raised their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. Finally, Barclays increased their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Kontoor Brands has a consensus rating of “Moderate Buy” and an average target price of $95.00.

Kontoor Brands Price Performance

Shares of KTB opened at $88.32 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 company’s fifty day simple moving average is $88.49 and its 200 day simple moving average is $81.60. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $96.80. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.18 and a beta of 1.19.

Kontoor Brands 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.