Kontoor Brands, Inc. (NYSE:KTB) to Issue $0.53 Quarterly Dividend

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Friday, July 24th. Shareholders of record on Tuesday, September 8th will be given a dividend of 0.53 per share on Friday, September 18th. This represents a c) annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Tuesday, September 8th.

Kontoor Brands has raised its dividend by an average of 0.2%per year over the last three years and has increased its dividend annually for the last 1 consecutive years. Kontoor Brands has a payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Kontoor Brands to earn $6.22 per share next year, which means the company should continue to be able to cover its $2.12 annual dividend with an expected future payout ratio of 34.1%.

Kontoor Brands Trading Up 0.3%

Shares of NYSE KTB traded up $0.29 during midday trading on Friday, reaching $83.66. 523,236 shares of the stock were exchanged, compared to its average volume of 820,454. Kontoor Brands has a 12 month low of $53.55 and a 12 month high of $88.96. The company has a market capitalization of $4.62 billion, a price-to-earnings ratio of 16.93 and a beta of 0.87. The company has a debt-to-equity ratio of 1.83, a current ratio of 1.87 and a quick ratio of 1.10. The business has a 50-day simple moving average of $77.72 and a two-hundred day simple moving average of $71.19.

Kontoor Brands (NYSE:KTB) last released its quarterly earnings data on Thursday, May 7th. The company reported $1.06 EPS for the quarter, missing analysts’ consensus estimates of $1.17 by ($0.11). The firm had revenue of $613.32 million during the quarter, compared to the consensus estimate of $784.76 million. Kontoor Brands had a net margin of 8.30% and a return on equity of 60.17%. Kontoor Brands’s quarterly revenue was up 45.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.20 EPS. Kontoor Brands has set its FY 2026 guidance at 6.600-6.700 EPS. As a group, equities research analysts expect that Kontoor Brands will post 5.2 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently commented on KTB. Wall Street Zen lowered Kontoor Brands from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Zacks Research upgraded shares of Kontoor Brands from a “strong sell” rating to a “hold” rating in a report on Thursday, July 9th. BTIG Research reaffirmed a “buy” rating and issued a $100.00 price target on shares of Kontoor Brands in a research note on Friday, May 1st. Weiss Ratings upgraded shares of Kontoor Brands from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday. Finally, JPMorgan Chase & Co. assumed coverage on shares of Kontoor Brands in a report on Monday, June 8th. They set an “overweight” rating and a $90.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $91.20.

About Kontoor Brands

Kontoor Brands, Inc is a global apparel company best known for its Wrangler and Lee denim and lifestyle brands. Established as an independent, publicly traded company in May 2019 following a spin-off from VF Corporation, Kontoor leverages a legacy that dates back to 1889 with the founding of Lee and to 1947 with the introduction of the Wrangler brand. The company focuses on designing, manufacturing and distributing premium, casual and workwear apparel, including jeans, pants, shorts, shirts, jackets and complementary accessories.

Kontoor Brands operates a diversified sales model that combines wholesale partnerships with leading retailers, distribution through e-commerce channels and select direct-to-consumer formats.