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

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 paid a dividend of 0.52 per share on Thursday, March 20th. This represents a $2.08 annualized dividend and a yield of 2.49%.

Kontoor Brands has raised 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. Research 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 Price Performance

KTB stock opened at $83.60 on Friday. The firm has a 50 day moving average price of $87.39 and a 200-day moving average price of $82.22. Kontoor Brands has a 52-week low of $52.95 and a 52-week high of $96.80. The firm has a market capitalization of $4.61 billion, a price-to-earnings ratio of 18.83, a PEG ratio of 2.08 and a beta of 1.19. The company has a debt-to-equity ratio of 2.09, a quick ratio of 1.42 and a current ratio of 2.50.

Wall Street Analyst Weigh In

KTB has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. UBS Group lifted their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the company a “buy” rating in a report on Friday, November 1st. Stifel Nicolaus lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating and lifted their target price for the company from $89.00 to $93.00 in a report on Friday, November 1st. Guggenheim lifted their target price on shares of Kontoor Brands from $80.00 to $100.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Barclays lifted their target price on shares of Kontoor Brands from $83.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, November 1st. 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, the stock presently has an average rating of “Moderate Buy” and an average price target 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.