Kontoor Brands, Inc. (KTB) to Issue Quarterly Dividend of $0.50 on June 20th

Kontoor Brands, Inc. (NYSE:KTB) declared a quarterly dividend on Friday, April 19th, Zacks reports. Shareholders of record on Monday, June 10th will be given a dividend of 0.50 per share on Thursday, June 20th. This represents a $2.00 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend is Monday, June 10th.

Kontoor Brands has raised its dividend by an average of 26.4% per year over the last three years and has raised its dividend every year for the last 3 years. Kontoor Brands has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Kontoor Brands to earn $5.47 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 36.6%.

Kontoor Brands Price Performance

Shares of KTB opened at $56.45 on Friday. The company has a current ratio of 2.66, a quick ratio of 1.38 and a debt-to-equity ratio of 2.05. The company’s fifty day simple moving average is $59.15 and its 200 day simple moving average is $55.96. Kontoor Brands has a 1-year low of $37.10 and a 1-year high of $64.49. The company has a market cap of $3.15 billion, a price-to-earnings ratio of 13.90, a PEG ratio of 1.50 and a beta of 1.13.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Wednesday, February 28th. The company reported $1.35 earnings per share for the quarter, missing the consensus estimate of $1.37 by ($0.02). The firm had revenue of $669.80 million for the quarter, compared to analyst estimates of $720.70 million. Kontoor Brands had a return on equity of 76.30% and a net margin of 8.86%. On average, research analysts forecast that Kontoor Brands will post 4.7 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Quarry LP bought a new position in shares of Kontoor Brands during the first quarter worth about $52,000. Gyon Technologies Capital Management LP bought a new stake in shares of Kontoor Brands in the 4th quarter valued at $58,000. Salem Investment Counselors Inc. increased its position in shares of Kontoor Brands by 146.1% during the fourth quarter. Salem Investment Counselors Inc. now owns 1,927 shares of the company’s stock worth $77,000 after buying an additional 1,144 shares during the period. Tower Research Capital LLC TRC raised its stake in Kontoor Brands by 195.0% during the first quarter. Tower Research Capital LLC TRC now owns 1,593 shares of the company’s stock worth $77,000 after buying an additional 1,053 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Kontoor Brands during the second quarter worth $109,000. 93.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on KTB. The Goldman Sachs Group increased their price objective on shares of Kontoor Brands from $56.00 to $64.00 and gave the company a “buy” rating in a research report on Thursday, February 29th. Edward Jones lowered shares of Kontoor Brands from a “buy” rating to a “hold” rating in a report on Friday, January 26th. Barclays lowered their price target on Kontoor Brands from $75.00 to $65.00 and set an “overweight” rating for the company in a report on Thursday, February 29th. Finally, UBS Group upped their price objective on shares of Kontoor Brands from $83.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.40.

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.