MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 894 Shares of Kontoor Brands, Inc. (NYSE:KTB)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,347 shares of the company’s stock after purchasing an additional 894 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.06% of Kontoor Brands worth $2,677,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in Kontoor Brands by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 261,022 shares of the company’s stock worth $22,294,000 after acquiring an additional 7,445 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Kontoor Brands by 5.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 697,326 shares of the company’s stock valued at $59,559,000 after purchasing an additional 35,932 shares during the period. Level Wealth Management LLC acquired a new position in Kontoor Brands during the 4th quarter worth approximately $350,000. Barclays PLC increased its position in shares of Kontoor Brands by 316.3% during the third quarter. Barclays PLC now owns 101,522 shares of the company’s stock worth $8,303,000 after acquiring an additional 77,137 shares in the last quarter. Finally, Vest Financial LLC boosted its position in shares of Kontoor Brands by 47.7% during the fourth quarter. Vest Financial LLC now owns 28,252 shares of the company’s stock valued at $2,413,000 after buying an additional 9,121 shares during the last quarter. Institutional investors and hedge funds own 93.06% of the company’s stock.

Kontoor Brands Stock Down 0.5%

Shares of NYSE KTB opened at $72.99 on Wednesday. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 2.12 and a beta of 1.05. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm’s fifty day moving average is $62.65 and its 200 day moving average is $77.08. Kontoor Brands, Inc. has a 52 week low of $50.00 and a 52 week high of $96.80.

Kontoor Brands (NYSE:KTB) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $1.20 EPS for the quarter, beating the consensus estimate of $1.16 by $0.04. The firm had revenue of $622.90 million during the quarter, compared to the consensus estimate of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.16 earnings per share. On average, equities research analysts expect that Kontoor Brands, Inc. will post 4.82 earnings per share for the current year.

Kontoor Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.85%. The ex-dividend date is Tuesday, June 10th. Kontoor Brands’s dividend payout ratio (DPR) is currently 50.98%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Barclays upped their price objective on shares of Kontoor Brands from $75.00 to $86.00 and gave the stock an “overweight” rating in a research report on Tuesday. Wells Fargo & Company raised their price objective on shares of Kontoor Brands from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. UBS Group raised their target price on Kontoor Brands from $83.00 to $92.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Stifel Nicolaus cut their target price on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $88.00.

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.