Hodges Capital Management Inc. Takes Position in Kontoor Brands, Inc. (NYSE:KTB)

Hodges Capital Management Inc. bought a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 38,000 shares of the company's stock, valued at approximately $3,246,000. Hodges Capital Management Inc. owned approximately 0.07% of Kontoor Brands as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of KTB. Jennison Associates LLC lifted its stake in Kontoor Brands by 73.2% during the 3rd quarter. Jennison Associates LLC now owns 757,426 shares of the company's stock valued at $61,942,000 after acquiring an additional 320,117 shares in the last quarter. Walleye Capital LLC bought a new position in shares of Kontoor Brands during the third quarter valued at about $8,479,000. Barclays PLC grew its position in Kontoor Brands by 316.3% in the 3rd quarter. Barclays PLC now owns 101,522 shares of the company's stock worth $8,303,000 after purchasing an additional 77,137 shares in the last quarter. LMR Partners LLP purchased a new stake in Kontoor Brands in the 3rd quarter valued at about $4,799,000. Finally, Pacer Advisors Inc. increased its stake in Kontoor Brands by 2.5% in the 4th quarter. Pacer Advisors Inc. now owns 1,786,250 shares of the company's stock valued at $152,564,000 after buying an additional 44,287 shares during the last quarter. Hedge funds and other institutional investors own 93.06% of the company's stock.

Kontoor Brands Stock Performance

Kontoor Brands stock traded down $0.59 during mid-day trading on Thursday, reaching $87.66. The company's stock had a trading volume of 452,132 shares, compared to its average volume of 464,818. The company has a market capitalization of $4.83 billion, a P/E ratio of 19.74, a PEG ratio of 2.18 and a beta of 1.19. The firm's fifty day moving average price is $88.44 and its two-hundred day moving average price is $81.65. Kontoor Brands, Inc. has a 12-month low of $52.95 and a 12-month high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Guggenheim upped their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a "buy" rating in a research note 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 report on Wednesday, October 23rd. Stifel Nicolaus cut shares of 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. UBS Group raised their price target on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Finally, Barclays increased their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a report on Friday, November 1st. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $95.00.

Kontoor Brands Company 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.