Tectonic Advisors LLC Takes $497,000 Position in Kontoor Brands, Inc. (NYSE:KTB)

Tectonic Advisors LLC purchased a new stake in Kontoor Brands, Inc. (NYSE:KTB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,824 shares of the company's stock, valued at approximately $497,000.

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

Kontoor Brands Stock Down 2.1 %

Shares of NYSE KTB traded down $1.82 during mid-day trading on Friday, reaching $85.93. The company had a trading volume of 508,018 shares, compared to its average volume of 471,671. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands, Inc. has a twelve month low of $52.95 and a twelve month high of $96.80. The stock's 50 day moving average is $88.26 and its 200-day moving average is $81.89. The stock has a market capitalization of $4.74 billion, a PE ratio of 19.35, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19.

Analyst Ratings Changes

A number of research firms have recently issued reports on KTB. Wells Fargo & Company boosted their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. UBS Group increased their target price on Kontoor Brands from $103.00 to $110.00 and gave the company a "buy" rating in a report 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. Guggenheim upped their price target on Kontoor Brands from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Barclays raised their price objective on Kontoor Brands from $83.00 to $100.00 and gave the stock an "overweight" rating 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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.