Kontoor Brands Announces Quarterly Dividend of $0.56 (NYSE:KTB)

Kontoor Brands (NYSE:KTB) announced a quarterly dividend on Tuesday, July 23rd, Zacks reports. Investors of record on Tuesday, September 10th will be paid a dividend of 0.56 per share on Friday, September 20th. This represents a $2.24 annualized dividend and a yield of 6.23%. The ex-dividend date of this dividend is Monday, September 9th.

Shares of NYSE KTB opened at $35.97 on Friday. Kontoor Brands has a 12-month low of $25.78 and a 12-month high of $41.75. The company has a debt-to-equity ratio of 12.64, a current ratio of 2.49 and a quick ratio of 1.07. The company’s 50-day simple moving average is $31.98.

Kontoor Brands (NYSE:KTB) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.29. The business had revenue of $609.74 million for the quarter, compared to analysts’ expectations of $591.36 million. During the same period in the prior year, the company posted $1.18 EPS. The firm’s revenue was down 8.2% on a year-over-year basis. As a group, equities analysts forecast that Kontoor Brands will post 3.8 earnings per share for the current year.



Several brokerages recently issued reports on KTB. Goldman Sachs Group began coverage on shares of Kontoor Brands in a research note on Friday, May 17th. They set a “neutral” rating for the company. Bank of America upped their price objective on shares of Kontoor Brands from $24.00 to $28.00 and gave the company an “underperform” rating in a research note on Friday, August 9th. Edward Jones began coverage on shares of Kontoor Brands in a research note on Friday, May 24th. They set a “hold” rating for the company. Stifel Nicolaus began coverage on shares of Kontoor Brands in a research note on Tuesday, May 28th. They set a “buy” rating and a $46.00 price objective for the company. Finally, Piper Jaffray Companies began coverage on shares of Kontoor Brands in a research note on Monday, June 17th. They set a “neutral” rating and a $29.00 price objective for the company. One analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $31.36.

In other news, Director Richard Carucci purchased 5,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average price of $33.15 per share, with a total value of $165,750.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Juliana L. Chugg purchased 8,400 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $29.96 per share, with a total value of $251,664.00. The disclosure for this purchase can be found here.

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