Kontoor Brands, Inc. (NYSE:KTB) Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky increased its position in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 129.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,580 shares of the company's stock after purchasing an additional 20,625 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.07% of Kontoor Brands worth $2,347,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Hussman Strategic Advisors Inc. bought a new position in shares of Kontoor Brands during the 1st quarter valued at approximately $2,693,000. Jennison Associates LLC lifted its stake in shares of Kontoor Brands by 10.7% during the 1st quarter. Jennison Associates LLC now owns 876,666 shares of the company's stock valued at $56,221,000 after buying an additional 84,588 shares in the last quarter. Tectonic Advisors LLC boosted its holdings in Kontoor Brands by 238.7% in the 1st quarter. Tectonic Advisors LLC now owns 19,726 shares of the company's stock worth $1,265,000 after buying an additional 13,902 shares during the period. Edgestream Partners L.P. bought a new position in Kontoor Brands in the 1st quarter worth $753,000. Finally, CWM LLC increased its stake in Kontoor Brands by 77.1% in the 1st quarter. CWM LLC now owns 3,554 shares of the company's stock worth $228,000 after buying an additional 1,547 shares in the last quarter. 93.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on KTB. Wells Fargo & Company raised their price objective on Kontoor Brands from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. UBS Group lifted their price objective on shares of Kontoor Brands from $83.00 to $92.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. The Goldman Sachs Group set a $85.00 target price on shares of Kontoor Brands and gave the company a "buy" rating in a research note on Tuesday, June 10th. Barclays lifted their price target on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 20th. Finally, Stifel Nicolaus decreased their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Kontoor Brands has an average rating of "Moderate Buy" and a consensus target price of $87.50.

Kontoor Brands Trading Down 2.1%

Shares of KTB traded down $1.36 during mid-day trading on Thursday, reaching $63.21. The stock had a trading volume of 1,015,234 shares, compared to its average volume of 624,338. Kontoor Brands, Inc. has a 52-week low of $50.00 and a 52-week high of $96.80. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of 15.49, a P/E/G ratio of 1.56 and a beta of 1.12. The business's fifty day moving average is $67.53 and its 200 day moving average is $70.16. The company has a debt-to-equity ratio of 1.72, a current ratio of 2.78 and a quick ratio of 1.65.

Kontoor Brands (NYSE:KTB - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.16 by $0.04. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. The business had revenue of $622.90 million for the quarter, compared to the consensus estimate of $625.44 million. During the same period in the previous year, the firm earned $1.16 EPS. The business's revenue was down 1.3% on a year-over-year basis. On average, sell-side analysts predict that Kontoor Brands, Inc. will post 4.82 EPS for the current fiscal year.

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.