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

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Friday, February 14th,RTT News reports. Shareholders 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 2.49%.

Kontoor Brands has increased its dividend by an average of 6.8% annually over the last three years. Kontoor Brands has a dividend payout ratio of 35.4% 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 $2.08 annual dividend with an expected future payout ratio of 39.4%.

Kontoor Brands Trading Up 0.1 %

NYSE:KTB opened at $83.60 on Friday. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. Kontoor Brands has a 12 month low of $52.95 and a 12 month high of $96.80. The company has a market cap of $4.61 billion, a PE ratio of 18.83, a price-to-earnings-growth ratio of 2.08 and a beta of 1.19. The company has a 50 day simple moving average of $87.39 and a two-hundred day simple moving average of $82.22.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Guggenheim lifted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Barclays lifted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Stifel Nicolaus downgraded shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their target price for the stock from $89.00 to $93.00 in a research report on Friday, November 1st. UBS Group boosted their price objective on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Wells Fargo & Company boosted their price objective on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

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.