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

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) announced a quarterly dividend on Monday, April 21st, Wall Street Journal reports. Stockholders 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 dividend yield of 3.39%. 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 payout ratio of 39.8% indicating that its dividend is sufficiently covered by earnings. 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 Down 1.7 %

Shares of KTB stock traded down $1.07 during mid-day trading on Friday, hitting $61.38. The company's stock had a trading volume of 530,084 shares, compared to its average volume of 538,129. The stock has a market cap of $3.40 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 2.12 and a beta of 0.93. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50. Kontoor Brands has a 52-week low of $50.00 and a 52-week high of $96.80. The business has a 50-day moving average price of $63.16 and a 200 day moving average price of $78.56.

Kontoor Brands (NYSE:KTB - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $699.00 million for the quarter, compared to the consensus estimate of $698.07 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The firm's revenue for the quarter was up 4.4% compared to the same quarter last year. Research analysts predict that Kontoor Brands will post 4.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on KTB. 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 research note on Thursday, April 10th. UBS Group cut their price target 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. Wells Fargo & Company lowered their price objective on Kontoor Brands from $100.00 to $90.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Finally, Barclays cut their target price on Kontoor Brands from $100.00 to $93.00 and set an "overweight" rating for the company in a research report on Wednesday, February 26th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Kontoor Brands has an average 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.