Jennison Associates LLC Has $67.65 Million Holdings in Kontoor Brands, Inc. (NYSE:KTB)

Jennison Associates LLC boosted its holdings in Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 4.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 792,078 shares of the company's stock after acquiring an additional 34,652 shares during the quarter. Jennison Associates LLC owned about 1.44% of Kontoor Brands worth $67,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in shares of Kontoor Brands by 10.7% during the 2nd quarter. AQR Capital Management LLC now owns 6,803 shares of the company's stock worth $450,000 after acquiring an additional 659 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Kontoor Brands by 3.0% during the second quarter. The Manufacturers Life Insurance Company now owns 31,959 shares of the company's stock valued at $2,114,000 after purchasing an additional 934 shares during the last quarter. Algert Global LLC acquired a new position in shares of Kontoor Brands in the 2nd quarter valued at $334,000. Creative Planning increased its stake in Kontoor Brands by 13.0% in the 2nd quarter. Creative Planning now owns 27,396 shares of the company's stock worth $1,812,000 after purchasing an additional 3,149 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in Kontoor Brands by 20.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,756 shares of the company's stock worth $182,000 after buying an additional 461 shares during the period. 93.06% of the stock is owned by institutional investors and hedge funds.

Kontoor Brands Stock Down 2.1 %

Shares of NYSE:KTB traded down $1.82 during trading on Friday, reaching $85.93. 508,018 shares of the company traded hands, compared to its average volume of 467,113. The firm has a fifty day simple moving average of $88.38 and a 200 day simple moving average of $81.69. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands, Inc. has a 1-year low of $52.95 and a 1-year high of $96.80. The firm has a market cap of $4.74 billion, a P/E ratio of 19.35, a price-to-earnings-growth ratio of 2.18 and a beta of 1.19.

Analysts Set New Price Targets

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

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.