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

Kontoor Brands, Inc. (NYSE:KTB) declared a quarterly dividend on Friday, February 14th, RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.52 per share on Thursday, March 20th. This represents a $2.08 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Monday, March 10th.

Kontoor Brands has a payout ratio of 36.1% indicating that 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 $2.08 annual dividend with an expected future payout ratio of 39.4%.

Kontoor Brands Trading Down 1.2 %

NYSE:KTB opened at $60.41 on Friday. The stock’s 50 day moving average price is $83.17 and its 200 day moving average price is $82.68. The company has a market capitalization of $3.34 billion, a PE ratio of 13.61, a P/E/G ratio of 2.12 and a beta of 1.23. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. Kontoor Brands has a 52-week low of $52.95 and a 52-week high of $96.80.

Kontoor Brands (NYSE:KTB) last announced its earnings results on Tuesday, February 25th. The company reported $1.38 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.07. Kontoor Brands had a return on equity of 73.99% and a net margin of 9.72%. The company had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same period last year, the business posted $1.28 EPS. The company’s revenue was up 4.4% on a year-over-year basis. On average, research analysts anticipate that Kontoor Brands will post 4.82 EPS for the current year.

Analyst Upgrades and Downgrades

KTB has been the topic of several analyst reports. Barclays lowered their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wells Fargo & Company lifted their price target on Kontoor Brands from $95.00 to $100.00 and gave the company an “overweight” rating in a research note on Thursday, February 20th. Finally, UBS Group cut their price objective on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.17.

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.