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

Key Points

• Kontoor Brands, Inc. announced a quarterly dividend of $0.52 per share, reflecting a 3.29% yield and an annualized dividend of $2.08.
• The company reported earnings per share (EPS) of $1.20 for the last quarter, exceeding estimates, but experienced a 1.3% decline in revenue year-over-year.
• Kontoor Brands has a payout ratio of 37.3%, indicating its dividends are well-supported by earnings, with expectations for a future payout ratio of 39.4% based on projected earnings.

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) announced a quarterly dividend on Friday, July 25th, RTT News reports. Investors of record on Tuesday, September 9th will be given a dividend of 0.52 per share on Friday, September 19th. This represents a $2.08 dividend on an annualized basis and a yield of 3.29%.

Kontoor Brands has a payout ratio of 37.3% 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 Price Performance

Shares of NYSE:KTB opened at $63.21 on Friday. The company has a quick ratio of 1.65, a current ratio of 2.78 and a debt-to-equity ratio of 1.72. The firm has a market capitalization of $3.51 billion, a PE ratio of 15.49, a P/E/G ratio of 1.56 and a beta of 1.12. Kontoor Brands has a twelve month low of $50.00 and a twelve month high of $96.80. The company has a 50-day moving average price of $67.53 and a two-hundred day moving average price of $70.16.

Kontoor Brands (NYSE:KTB - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.16 by $0.04. The business had revenue of $622.90 million during the quarter, compared to analyst estimates of $625.44 million. Kontoor Brands had a net margin of 8.82% and a return on equity of 71.33%. Kontoor Brands's revenue for the quarter was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.16 earnings per share. Equities analysts forecast that Kontoor Brands will post 4.82 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. United Services Automobile Association purchased a new position in shares of Kontoor Brands in the first quarter valued at $205,000. Integrated Wealth Concepts LLC grew its holdings in shares of Kontoor Brands by 250.8% in the first quarter. Integrated Wealth Concepts LLC now owns 9,388 shares of the company's stock valued at $602,000 after purchasing an additional 6,712 shares in the last quarter. AQR Capital Management LLC lifted its position in Kontoor Brands by 49.3% in the first quarter. AQR Capital Management LLC now owns 14,641 shares of the company's stock worth $939,000 after buying an additional 4,836 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Kontoor Brands by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,779 shares of the company's stock worth $2,102,000 after buying an additional 1,432 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in Kontoor Brands by 128.0% in the first quarter. Jane Street Group LLC now owns 97,002 shares of the company's stock worth $6,221,000 after purchasing an additional 54,448 shares during the period. 93.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KTB has been the topic of a number of research reports. UBS Group boosted their target price on shares of Kontoor Brands from $83.00 to $92.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. The Goldman Sachs Group set a $85.00 target price on Kontoor Brands and gave the stock a "buy" rating in a research report on Tuesday, June 10th. Barclays upped their price target on shares of Kontoor Brands from $75.00 to $86.00 and gave the company an "overweight" rating in a research report on Tuesday, May 20th. Wells Fargo & Company upped their price target on Kontoor Brands from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus dropped their price target on Kontoor Brands from $83.00 to $72.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. One investment 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $87.50.

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.

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