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

Kontoor Brands, Inc. (NYSE:KTB) declared a quarterly dividend on Friday, February 14th,RTT News reports. Stockholders of record on Monday, March 10th will be paid a dividend of 0.52 per share on Thursday, March 20th. This represents a $2.08 annualized dividend and a dividend yield of 2.49%.

Kontoor Brands has increased its dividend by an average of 6.8% annually over the last three years. Kontoor Brands has a dividend payout ratio of 35.4% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 3.8 %

KTB stock opened at $83.56 on Friday. The company’s 50 day moving average price is $87.57 and its 200 day moving average price is $82.21. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.82, a PEG ratio of 2.08 and a beta of 1.19. Kontoor Brands has a fifty-two week low of $52.95 and a fifty-two week high of $96.80. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Analyst Ratings Changes

A number of brokerages have commented on KTB. UBS Group increased their price objective on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. Barclays lifted their price target on Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Guggenheim increased their price objective on Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Wells Fargo & Company raised their target price on Kontoor Brands from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.