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

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

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

Shares of KTB stock traded up $2.52 during trading hours on Monday, hitting $57.52. The company had a trading volume of 806,989 shares, compared to its average volume of 537,885. The stock has a market capitalization 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 company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. Kontoor Brands has a fifty-two week low of $50.00 and a fifty-two week high of $96.80. The company’s fifty day moving average is $65.49 and its 200 day moving average is $79.24.

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

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on KTB shares. Wells Fargo & Company cut 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. UBS Group decreased their target price on Kontoor Brands from $108.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Barclays dropped their price target on shares of Kontoor Brands from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus cut their price target on shares of Kontoor Brands from $83.00 to $72.00 and set a “hold” rating on the stock in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and an average price target of $88.00.

Kontoor Brands Company Profile

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.