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

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Investors of record on Tuesday, June 10th will be paid a dividend of 0.52 per share on Friday, June 20th. This represents a $2.08 annualized dividend and a yield of 3.62%. The ex-dividend date of this dividend is Tuesday, June 10th.

Kontoor Brands has raised its dividend payment by an average of 6.8% per year over the last three years. Kontoor Brands has a dividend payout ratio of 39.8% 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 Stock Up 4.6 %

Shares of KTB stock opened at $57.52 on Tuesday. Kontoor Brands has a 12 month low of $50.00 and a 12 month high of $96.80. The company has a quick ratio of 1.42, a current ratio of 2.50 and a debt-to-equity ratio of 2.09. The firm has a market cap of $3.18 billion, a PE ratio of 12.95, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The stock has a 50 day moving average of $65.03 and a 200-day moving average of $79.09.

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

Wall Street Analyst Weigh In

A number of brokerages have commented on KTB. UBS Group reduced 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. Stifel Nicolaus reduced their price objective on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating for the company in a report on Thursday, April 10th. Wells Fargo & Company lowered their target price on shares of Kontoor Brands from $100.00 to $90.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Barclays dropped their target price on Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.

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.