Kontoor Brands, Inc. (NYSE:KTB) Declares Quarterly Dividend of $0.40

Thursday, July 22, 2021 | MarketBeat

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Wednesday, July 21st, Zacks reports. Investors of record on Friday, September 10th will be paid a dividend of 0.40 per share on Monday, September 20th. This represents a $1.60 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 9th.

Shares of KTB opened at $55.50 on Thursday. The company has a market capitalization of $3.20 billion, a P/E ratio of 24.13, a P/E/G ratio of 1.80 and a beta of 1.29. The company has a quick ratio of 1.21, a current ratio of 2.02 and a debt-to-equity ratio of 5.89. The firm's 50 day moving average price is $60.14. Kontoor Brands has a twelve month low of $16.87 and a twelve month high of $69.16.

Kontoor Brands (NYSE:KTB) last issued its earnings results on Thursday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters' consensus estimate of $1.04 by $0.39. Kontoor Brands had a net margin of 6.02% and a return on equity of 440.68%. The company had revenue of $651.76 million for the quarter, compared to analysts' expectations of $608.75 million. During the same quarter last year, the company posted $0.27 earnings per share. The firm's quarterly revenue was up 29.2% on a year-over-year basis. As a group, equities analysts predict that Kontoor Brands will post 3.85 earnings per share for the current fiscal year.

Several brokerages recently issued reports on KTB. UBS Group raised their target price on shares of Kontoor Brands from $89.00 to $97.00 and gave the stock a "buy" rating in a report on Tuesday, May 25th. Barclays raised their target price on shares of Kontoor Brands from $56.00 to $82.00 and gave the stock an "overweight" rating in a report on Friday, May 7th. Piper Sandler raised their target price on shares of Kontoor Brands from $59.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, April 12th. Finally, The Goldman Sachs Group started coverage on shares of Kontoor Brands in a research note on Wednesday, July 14th. They set a "buy" rating and a $69.00 price target on the stock. Seven analysts have rated the stock with a buy rating, The company has a consensus rating of "Buy" and an average price target of $65.00.

In other news, EVP Laurel Krueger sold 6,762 shares of the firm's stock in a transaction on Friday, May 28th. The shares were sold at an average price of $63.98, for a total transaction of $432,632.76. Following the sale, the executive vice president now directly owns 29,058 shares in the company, valued at approximately $1,859,130.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.90% of the company's stock.

Kontoor Brands Company Profile

Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.

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Dividend History for Kontoor Brands (NYSE:KTB)

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