Kontoor Brands, Inc. (NYSE:KTB) Increases Dividend to $0.52 Per Share

Kontoor Brands, Inc. (NYSE:KTB - Get Free Report) announced a quarterly dividend on Friday, October 25th, Zacks reports. Shareholders of record on Monday, December 9th will be given a dividend of 0.52 per share on Thursday, December 19th. This represents a $2.08 annualized dividend and a yield of 2.71%. The ex-dividend date is Monday, December 9th. This is a boost from Kontoor Brands's previous quarterly dividend of $0.50.

Kontoor Brands has increased its dividend payment by an average of 26.4% annually over the last three years. Kontoor Brands has a dividend payout ratio of 37.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kontoor Brands to earn $5.28 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 37.9%.

Kontoor Brands Stock Up 0.4 %

Shares of NYSE KTB traded up $0.27 during trading on Friday, reaching $76.88. 258,844 shares of the stock were exchanged, compared to its average volume of 478,871. The business's 50-day moving average price is $77.05 and its 200 day moving average price is $70.56. Kontoor Brands has a twelve month low of $39.90 and a twelve month high of $84.21. The company has a quick ratio of 1.43, a current ratio of 2.74 and a debt-to-equity ratio of 2.04. The company has a market capitalization of $4.28 billion, a price-to-earnings ratio of 18.17, a price-to-earnings-growth ratio of 2.04 and a beta of 1.20.

Kontoor Brands (NYSE:KTB - Get Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.98 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.10. Kontoor Brands had a net margin of 9.35% and a return on equity of 72.43%. The business had revenue of $607.00 million for the quarter, compared to analysts' expectations of $592.97 million. During the same period in the previous year, the company posted $0.77 earnings per share. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, equities analysts forecast that Kontoor Brands will post 4.8 EPS for the current fiscal year.

Analyst Ratings Changes

KTB has been the topic of a number of recent research reports. Guggenheim boosted their target price on shares of Kontoor Brands from $75.00 to $80.00 and gave the stock a "buy" rating in a research report on Friday, August 2nd. UBS Group upped their price target on shares of Kontoor Brands from $90.00 to $103.00 and gave the company a "buy" rating in a report on Friday, October 18th. Stifel Nicolaus upped their price target on shares of Kontoor Brands from $80.00 to $89.00 and gave the company a "buy" rating in a report on Monday, October 7th. Barclays upped their price target on shares of Kontoor Brands from $76.00 to $83.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Finally, Wells Fargo & Company upped their price target on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an "overweight" rating in a report on Wednesday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

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.