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

Tectonic Advisors LLC purchased a new stake in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 5,824 shares of the company’s stock, valued at approximately $497,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC boosted its position in Kontoor Brands by 10.7% in the second quarter. AQR Capital Management LLC now owns 6,803 shares of the company’s stock valued at $450,000 after buying an additional 659 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Kontoor Brands by 3.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 31,959 shares of the company’s stock valued at $2,114,000 after acquiring an additional 934 shares during the last quarter. Algert Global LLC acquired a new stake in shares of Kontoor Brands during the 2nd quarter valued at $334,000. Northwestern Mutual Wealth Management Co. grew its position 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 acquiring an additional 461 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in Kontoor Brands by 55.6% in the 3rd quarter. SG Americas Securities LLC now owns 5,516 shares of the company’s stock worth $451,000 after purchasing an additional 1,972 shares in the last quarter. 93.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on KTB shares. UBS Group lifted their price target on Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Barclays lifted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Guggenheim upped their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their price target for the stock from $89.00 to $93.00 in a report on Friday, November 1st. Finally, Wells Fargo & Company boosted 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. One equities 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 has an average rating of “Moderate Buy” and a consensus price target of $95.00.

Kontoor Brands Stock Down 0.3 %

Kontoor Brands stock opened at $88.32 on Thursday. The firm has a 50 day moving average price of $88.49 and a two-hundred day moving average price of $81.60. 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 52-week low of $52.95 and a 52-week high of $96.80. The firm has a market cap of $4.87 billion, a price-to-earnings ratio of 19.89, a PEG ratio of 2.18 and a beta of 1.19.

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.