Kontoor Brands, Inc. (NYSE:KTB) Declares Quarterly Dividend of $0.52

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Friday, October 25th, Zacks reports. Investors of record on Monday, December 9th will be given a dividend of 0.52 per share on Thursday, December 19th. This represents a $2.08 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Monday, December 9th. This is a positive change from Kontoor Brands’s previous quarterly dividend of $0.50.

Kontoor Brands has raised its dividend payment by an average of 26.4% per year over the last three years. Kontoor Brands has a payout ratio of 37.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Kontoor Brands to earn $5.28 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 37.9%.

Kontoor Brands Stock Up 0.4 %

NYSE KTB traded up $0.27 during trading hours on Friday, reaching $76.88. 258,844 shares of the company traded hands, compared to its average volume of 478,871. Kontoor Brands has a 12 month low of $39.90 and a 12 month high of $84.21. The company has a current ratio of 2.74, a quick ratio of 1.43 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $4.28 billion, a PE ratio of 18.17, a PEG ratio of 2.04 and a beta of 1.20. The company has a 50 day moving average of $77.05 and a two-hundred day moving average of $70.46.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The firm had revenue of $607.00 million for the quarter, compared to the consensus estimate of $592.97 million. During the same period in the prior year, the firm posted $0.77 EPS. The firm’s revenue was down 1.5% compared to the same quarter last year. As a group, equities analysts expect that Kontoor Brands will post 4.8 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on KTB. Stifel Nicolaus raised their price target on shares of Kontoor Brands from $80.00 to $89.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. UBS Group lifted their price objective on shares of Kontoor Brands from $90.00 to $103.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Barclays lifted their price objective on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Guggenheim lifted their price objective on shares of Kontoor Brands from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Company lifted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Kontoor Brands has an average rating of “Moderate Buy” and a consensus target price of $87.00.

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.