Kontoor Brands, Inc. (NYSE:KTB) Announces $0.40 Quarterly Dividend

Kontoor Brands, Inc. (NYSE:KTB) announced a quarterly dividend on Wednesday, July 21st, Zacks reports. Investors of record on Friday, September 10th will be given a dividend of 0.40 per share on Monday, September 20th. This represents a $1.60 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date of this dividend is Thursday, September 9th.

KTB stock traded up $0.11 during trading on Thursday, reaching $55.50. The company had a trading volume of 324,050 shares, compared to its average volume of 644,439. The business has a 50-day simple moving average of $60.14. The firm has a market cap of $3.20 billion, a P/E ratio of 24.13, a price-to-earnings-growth ratio of 1.80 and a beta of 1.29. The company has a debt-to-equity ratio of 5.89, a quick ratio of 1.21 and a current ratio of 2.02. Kontoor Brands has a twelve month low of $16.87 and a twelve month high of $69.16.

Kontoor Brands (NYSE:KTB) last posted its quarterly earnings results on Thursday, May 6th. The company reported $1.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.04 by $0.39. The company had revenue of $651.76 million during the quarter, compared to analyst estimates of $608.75 million. Kontoor Brands had a net margin of 6.02% and a return on equity of 440.68%. Kontoor Brands’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the firm posted $0.27 EPS. As a group, analysts expect that Kontoor Brands will post 3.85 earnings per share for the current year.

Several brokerages recently commented on KTB. UBS Group boosted their price target on shares of Kontoor Brands from $89.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, May 25th. The Goldman Sachs Group started coverage on shares of Kontoor Brands in a report on Wednesday, July 14th. They issued a “buy” rating and a $69.00 price objective on the stock. Piper Sandler boosted their price target on shares of Kontoor Brands from $59.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, April 12th. Finally, Barclays boosted their price target on shares of Kontoor Brands from $56.00 to $82.00 and gave the stock an “overweight” rating in a research note on Friday, May 7th. Seven analysts have rated the stock with a buy rating, The company presently has an average rating of “Buy” and a consensus price target of $65.00.

In other Kontoor Brands news, EVP Laurel Krueger sold 6,762 shares of the firm’s stock in a transaction dated Friday, May 28th. The stock was sold at an average price of $63.98, for a total value of $432,632.76. Following the sale, the executive vice president now directly owns 29,058 shares of the company’s stock, valued at approximately $1,859,130.84. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.90% of the stock is owned by company insiders.

Kontoor Brands Company Profile

Kontoor Brands, Inc engages in the design, manufacture, sourcing, marketing, and distribution of a portfolio of brands. It operates through the Wrangler and Lee segment. The company was founded on November 18, 2018 and is headquartered in Greensboro, NC.

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Dividend History for Kontoor Brands (NYSE:KTB)

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