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

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) declared a quarterly dividend on Friday, February 14th,RTT News reports. Investors of record on Monday, March 10th will be given a dividend of 0.52 per share on Thursday, March 20th. This represents a $2.08 dividend on an annualized basis and a yield of 2.42%. 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 payout ratio of 35.4% 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 Performance

NYSE:KTB traded up $2.13 during midday trading on Tuesday, reaching $85.86. 708,807 shares of the company traded hands, compared to its average volume of 491,216. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $96.80. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 19.34, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a current ratio of 2.50 and a quick ratio of 1.42. The company has a fifty day moving average price of $87.18 and a 200 day moving average price of $82.57.

Analyst Ratings Changes

A number of research firms recently issued reports on KTB. Wells Fargo & Company boosted their price objective on Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a research report on Wednesday, October 23rd. Barclays boosted their price objective on Kontoor Brands from $83.00 to $100.00 and gave the company an "overweight" rating in a research report on Friday, November 1st. Stifel Nicolaus lowered Kontoor Brands from a "buy" rating to a "hold" rating and boosted their price target for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. Guggenheim boosted their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, UBS Group reduced their price target on Kontoor Brands from $112.00 to $108.00 and set a "buy" rating for the company in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $94.67.

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.