Kontoor Brands, Inc. (NYSE:KTB – Get Free Report) 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.
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.
Check Out Our Latest Analysis on Kontoor Brands
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.
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