Azzad Asset Management Inc. ADV Sells 136 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Azzad Asset Management Inc. ADV lowered its stake in Kontoor Brands, Inc. (NYSE:KTB) by 0.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,074 shares of the company’s stock after selling 136 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Kontoor Brands were worth $2,950,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Vest Financial LLC increased its stake in shares of Kontoor Brands by 47.7% in the 4th quarter. Vest Financial LLC now owns 28,252 shares of the company’s stock worth $2,413,000 after purchasing an additional 9,121 shares in the last quarter. Tectonic Advisors LLC bought a new stake in Kontoor Brands during the fourth quarter valued at about $497,000. Hodges Capital Management Inc. purchased a new position in shares of Kontoor Brands in the fourth quarter valued at about $3,246,000. Jennison Associates LLC boosted its stake in shares of Kontoor Brands by 4.6% in the fourth quarter. Jennison Associates LLC now owns 792,078 shares of the company’s stock worth $67,651,000 after acquiring an additional 34,652 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands in the fourth quarter worth about $29,000. Institutional investors own 93.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on KTB shares. 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. Barclays lifted their target price on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the company from $89.00 to $93.00 in a research note on Friday, November 1st. Wells Fargo & Company lifted their price objective on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Finally, UBS Group increased their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. One equities 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, Kontoor Brands currently has an average rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Trading Down 2.3 %

Kontoor Brands stock opened at $82.43 on Wednesday. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80. The stock has a 50-day moving average price of $88.07 and a 200 day moving average price of $82.13. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 18.56, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19.

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.