HHM Wealth Advisors LLC Purchases Shares of 342 Kontoor Brands, Inc. (NYSE:KTB)

HHM Wealth Advisors LLC bought a new position in shares of Kontoor Brands, Inc. (NYSE:KTB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 342 shares of the company’s stock, valued at approximately $29,000.

A number of other hedge funds have also recently added to or reduced their stakes in KTB. Janney Montgomery Scott LLC raised its holdings in shares of Kontoor Brands by 3.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,775 shares of the company’s stock worth $408,000 after acquiring an additional 141 shares during the period. GAMMA Investing LLC boosted its position in Kontoor Brands by 26.0% during the 4th quarter. GAMMA Investing LLC now owns 882 shares of the company’s stock worth $75,000 after acquiring an additional 182 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its stake in shares of Kontoor Brands by 7.1% during the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 2,956 shares of the company’s stock worth $252,000 after acquiring an additional 197 shares in the last quarter. UMB Bank n.a. boosted its holdings in Kontoor Brands by 0.4% during the fourth quarter. UMB Bank n.a. now owns 51,305 shares of the company’s stock worth $4,382,000 after purchasing an additional 210 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in Kontoor Brands by 242.5% in the third quarter. Farther Finance Advisors LLC now owns 387 shares of the company’s stock valued at $32,000 after purchasing an additional 274 shares in the last quarter. Institutional investors own 93.06% of the company’s stock.

Kontoor Brands Price Performance

Kontoor Brands stock opened at $86.37 on Tuesday. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 19.45, a PEG ratio of 2.18 and a beta of 1.20. Kontoor Brands, Inc. has a 52-week low of $52.95 and a 52-week 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. The stock’s 50 day moving average price is $88.70 and its two-hundred day moving average price is $81.34.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Guggenheim lifted their target price on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Wells Fargo & Company boosted their target price 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. UBS Group increased 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. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Finally, Barclays increased their target price on Kontoor Brands from $83.00 to $100.00 and gave the company 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, the stock has an average rating of “Moderate Buy” and a consensus price target 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.