Kontoor Brands, Inc. (NYSE:KTB) Shares Acquired by Vest Financial LLC

Vest Financial LLC boosted its stake in Kontoor Brands, Inc. (NYSE:KTB) by 47.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,252 shares of the company’s stock after acquiring an additional 9,121 shares during the period. Vest Financial LLC owned 0.05% of Kontoor Brands worth $2,413,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC acquired a new stake in shares of Kontoor Brands in the 4th quarter valued at about $29,000. Northwest Investment Counselors LLC acquired a new stake in Kontoor Brands during the third quarter valued at approximately $30,000. Kennebec Savings Bank bought a new position in Kontoor Brands during the 3rd quarter worth approximately $32,000. Farther Finance Advisors LLC grew its position in shares of Kontoor Brands by 242.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock worth $32,000 after acquiring an additional 274 shares in the last quarter. Finally, Fortitude Family Office LLC increased its holdings in shares of Kontoor Brands by 407.3% in the 4th quarter. Fortitude Family Office LLC now owns 416 shares of the company’s stock valued at $36,000 after acquiring an additional 334 shares during the last quarter. 93.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

KTB has been the topic of several research analyst reports. UBS Group raised their price objective on Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Guggenheim lifted their price target on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Barclays increased 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. Wells Fargo & Company lifted their target price on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus cut Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock 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 stock. Based on data from MarketBeat.com, Kontoor Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

Kontoor Brands Price Performance

NYSE KTB opened at $85.93 on Friday. The company has a 50-day moving average price of $88.26 and a two-hundred day moving average price of $81.80. Kontoor Brands, Inc. has a 52 week low of $52.95 and a 52 week high of $96.80. The stock has a market cap of $4.74 billion, a price-to-earnings ratio of 19.35, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09.

Kontoor Brands 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.