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

Kontoor Brands, Inc. (NYSE:KTB) declared a quarterly dividend on Friday, October 25th, Zacks reports. Stockholders 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 annualized dividend and a dividend yield of 2.71%. The ex-dividend date is Monday, December 9th. This is a boost 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% indicating that its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of NYSE KTB opened at $76.88 on Friday. The stock has a market cap of $4.28 billion, a P/E ratio of 18.17, a P/E/G ratio of 2.04 and a beta of 1.20. The firm’s 50-day simple moving average is $77.05 and its 200 day simple moving average is $70.56. Kontoor Brands has a fifty-two week low of $39.90 and a fifty-two week high of $84.21. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10. The company had revenue of $607.00 million for the quarter, compared to the consensus estimate of $592.97 million. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. Kontoor Brands’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.77 EPS. Equities analysts expect that Kontoor Brands will post 4.8 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.