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

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Kontoor Brands, Inc. (NYSE:KTB) by 2.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,347 shares of the company’s stock after acquiring an additional 894 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Kontoor Brands were worth $2,677,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marshall Wace LLP lifted its holdings in shares of Kontoor Brands by 97.3% during the fourth quarter. Marshall Wace LLP now owns 579,844 shares of the company’s stock valued at $49,524,000 after purchasing an additional 285,897 shares in the last quarter. Norges Bank bought a new stake in Kontoor Brands during the 4th quarter valued at approximately $17,630,000. Geode Capital Management LLC lifted its holdings in shares of Kontoor Brands by 16.6% in the fourth quarter. Geode Capital Management LLC now owns 1,402,701 shares of the company’s stock worth $119,827,000 after buying an additional 199,601 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Kontoor Brands by 28.4% during the 4th quarter. JPMorgan Chase & Co. now owns 849,712 shares of the company’s stock valued at $72,574,000 after purchasing an additional 188,001 shares during the last quarter. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Kontoor Brands during the fourth quarter valued at about $12,962,000. 93.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Kontoor Brands Price Performance

Shares of KTB stock opened at $72.99 on Wednesday. The stock’s 50-day moving average is $62.65 and its 200 day moving average is $77.08. Kontoor Brands, Inc. has a 1-year low of $50.00 and a 1-year high of $96.80. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a market cap of $4.06 billion, a P/E ratio of 16.44, a PEG ratio of 2.12 and a beta of 1.05.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.04. The business had revenue of $622.90 million for the quarter, compared to analysts’ expectations of $625.44 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period last year, the business earned $1.16 EPS. Research analysts predict that Kontoor Brands, Inc. will post 4.82 earnings per share for the current fiscal year.

Kontoor Brands Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Tuesday, June 10th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, June 10th. This represents a $2.08 dividend on an annualized basis and a yield of 2.85%. Kontoor Brands’s payout ratio is 50.98%.

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.