Kontoor Brands, Inc. Declares 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 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%. The ex-dividend date of this dividend is Monday, March 10th.

Kontoor Brands has increased its dividend by an average of 6.8% per year over the last three years. Kontoor Brands has a dividend payout ratio of 35.4% meaning 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 Performance

Shares of KTB stock opened at $83.60 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands has a 12-month low of $52.95 and a 12-month high of $96.80. The business’s 50 day moving average is $87.27 and its two-hundred day moving average is $82.40. The company has a market capitalization of $4.61 billion, a P/E ratio of 18.83, a P/E/G ratio of 2.08 and a beta of 1.19.

Analyst Ratings Changes

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