Vest Financial LLC Increases Stake in Kontoor Brands, Inc. (NYSE:KTB)

Vest Financial LLC grew its holdings in shares of Kontoor Brands, Inc. (NYSE:KTB - Free Report) by 47.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 28,252 shares of the company's stock after acquiring an additional 9,121 shares during the quarter. Vest Financial LLC owned about 0.05% of Kontoor Brands worth $2,413,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

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

Kontoor Brands Stock Performance

KTB traded down $1.92 on Wednesday, reaching $80.51. The company had a trading volume of 764,932 shares, compared to its average volume of 480,476. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. The company's fifty day moving average is $87.83 and its 200 day moving average is $82.22. Kontoor Brands, Inc. has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The stock has a market cap of $4.44 billion, a P/E ratio of 18.13, a P/E/G 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.