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

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Friday, October 25th,Zacks Dividends reports. Stockholders of record on Monday, December 9th will be paid a dividend of 0.52 per share on Thursday, December 19th. This represents a $2.08 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Monday, December 9th. This is a boost from Kontoor Brands’s previous quarterly dividend of $0.50.

Kontoor Brands has increased its dividend by an average of 26.4% annually over the last three years. Kontoor Brands has a dividend payout ratio of 38.5% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 2.6 %

Shares of KTB stock opened at $89.84 on Friday. The company has a market capitalization of $4.95 billion, a price-to-earnings ratio of 20.23, a PEG ratio of 2.43 and a beta of 1.20. The company has a current ratio of 2.50, a quick ratio of 1.42 and a debt-to-equity ratio of 2.09. The firm has a 50-day moving average price of $85.27 and a 200 day moving average price of $75.91. Kontoor Brands has a twelve month low of $52.95 and a twelve month high of $94.82.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.26 by $0.11. The business had revenue of $670.19 million during the quarter, compared to analyst estimates of $663.45 million. Kontoor Brands had a net margin of 9.72% and a return on equity of 73.99%. The company’s revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.22 earnings per share. Research analysts forecast that Kontoor Brands will post 4.83 earnings per share for the current fiscal year.

Insider Transactions at Kontoor Brands

In other news, EVP Thomas L. Doerr, Jr. sold 9,039 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $80.71, for a total value of $729,537.69. Following the completion of the sale, the executive vice president now owns 18,179 shares of the company’s stock, valued at $1,467,227.09. This represents a 33.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Scott H. Baxter sold 119,160 shares of Kontoor Brands stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $83.60, for a total transaction of $9,961,776.00. Following the transaction, the chief executive officer now owns 331,916 shares in the company, valued at $27,748,177.60. The trade was a 26.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.60% of the company’s stock.

Analyst Upgrades and Downgrades

KTB has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered Kontoor Brands from a “buy” rating to a “hold” rating and increased their price target for the stock from $89.00 to $93.00 in a research note on Friday, November 1st. Guggenheim raised their price target on Kontoor Brands from $80.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price target on Kontoor Brands from $80.00 to $90.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Barclays increased their price objective on shares of Kontoor Brands from $83.00 to $100.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Finally, UBS Group raised their target price on shares of Kontoor Brands from $103.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, Kontoor Brands has an average rating of “Moderate Buy” and an average 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.