Mirae Asset Global Investments Co. Ltd. Acquires 1,726 Shares of Kontoor Brands, Inc. (NYSE:KTB)

Mirae Asset Global Investments Co. Ltd. increased its holdings in Kontoor Brands, Inc. (NYSE:KTB) by 7.1% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 26,015 shares of the company’s stock after buying an additional 1,726 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Kontoor Brands were worth $1,624,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KTB. McGlone Suttner Wealth Management Inc. bought a new stake in Kontoor Brands in the 4th quarter worth about $25,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of Kontoor Brands by 5,710.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 581 shares of the company’s stock valued at $26,000 after purchasing an additional 571 shares during the period. Ronald Blue Trust Inc. grew its stake in shares of Kontoor Brands by 225.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,098 shares of the company’s stock valued at $46,000 after purchasing an additional 761 shares during the period. Quarry LP bought a new stake in shares of Kontoor Brands during the 1st quarter valued at about $52,000. Finally, Jones Financial Companies Lllp grew its stake in shares of Kontoor Brands by 121.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,304 shares of the company’s stock valued at $57,000 after purchasing an additional 715 shares during the period. 93.06% of the stock is currently owned by institutional investors.

Kontoor Brands Stock Up 1.9 %

NYSE KTB opened at $56.45 on Friday. The stock’s 50 day moving average is $59.15 and its 200 day moving average is $55.96. The company has a current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. Kontoor Brands, Inc. has a 12 month low of $37.10 and a 12 month high of $64.49. The stock has a market cap of $3.15 billion, a PE ratio of 13.90, a P/E/G ratio of 1.47 and a beta of 1.13.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $1.35 EPS for the quarter, missing analysts’ consensus estimates of $1.37 by ($0.02). Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. The business had revenue of $669.80 million during the quarter, compared to analysts’ expectations of $720.70 million. Research analysts predict that Kontoor Brands, Inc. will post 4.7 EPS for the current fiscal year.

Kontoor Brands Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Investors of record on Monday, June 10th will be issued a $0.50 dividend. The ex-dividend date is Monday, June 10th. This represents a $2.00 dividend on an annualized basis and a yield of 3.54%. Kontoor Brands’s dividend payout ratio is presently 49.26%.

Wall Street Analyst Weigh In

KTB has been the subject of a number of recent research reports. UBS Group boosted their price target on Kontoor Brands from $83.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group lifted their price objective on Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Edward Jones cut Kontoor Brands from a “buy” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Barclays lowered their price objective on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating on the stock in a research report on Thursday, February 29th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.40.

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.