Kontoor Brands, Inc. (NYSE:KTB) Announces $0.50 Quarterly Dividend

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Friday, July 26th, Zacks reports. Investors of record on Tuesday, September 10th will be paid a dividend of 0.50 per share on Friday, September 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend is Tuesday, September 10th.

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 37.7% 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 $2.00 annual dividend with an expected future payout ratio of 37.9%.

Kontoor Brands Stock Down 0.5 %

Shares of NYSE KTB opened at $72.32 on Friday. The stock has a 50 day moving average price of $69.54 and a 200 day moving average price of $65.85. The company has a debt-to-equity ratio of 2.04, a quick ratio of 1.43 and a current ratio of 2.74. The firm has a market capitalization of $4.04 billion, a price-to-earnings ratio of 18.31, a PEG ratio of 1.95 and a beta of 1.20. Kontoor Brands has a 52-week low of $39.90 and a 52-week high of $75.17.

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

Wall Street Analyst Weigh In

KTB has been the subject of a number of analyst reports. Guggenheim upped their target price on Kontoor Brands from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Stifel Nicolaus upped their target price on Kontoor Brands from $77.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Barclays upped their target price on Kontoor Brands from $76.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $78.83.

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.