Kontoor Brands (KTB) Declares $0.48 Dividend

Kontoor Brands said on April 21, 2023 that its board of directors declared a regular quarterly dividend of $0.48 per share ($1.92 annualized). Previously, the company paid $0.48 per share.

Shares must be purchased before the ex-div date of June 8, 2023 to qualify for the dividend. Shareholders of record as of June 9, 2023 will receive the payment on June 20, 2023.

At the current share price of $46.31 / share, the stock's dividend yield is 4.15%. Looking back five years and taking a sample every week, the average dividend yield has been 4.80%, the lowest has been 2.40%, and the highest has been 14.85%. The standard deviation of yields is 1.97 (n=162).

The current dividend yield is 0.33 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.43. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is -0.14%.

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What is the Fund Sentiment?

There are 619 funds or institutions reporting positions in Kontoor Brands. This is an increase of 18 owner(s) or 3.00% in the last quarter. Average portfolio weight of all funds dedicated to KTB is 0.22%, an increase of 65.45%. Total shares owned by institutions decreased in the last three months by 8.82% to 72,034K shares. The put/call ratio of KTB is 1.59, indicating a bearish outlook.

Analyst Price Forecast Suggests 18.94% Upside

As of April 6, 2023, the average one-year price target for Kontoor Brands is $55.08. The forecasts range from a low of $27.27 to a high of $68.25. The average price target represents an increase of 18.94% from its latest reported closing price of $46.31.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Kontoor Brands is $2,641MM, an increase of 0.36%. The projected annual non-GAAP EPS is $4.46.

What are Other Shareholders Doing?

Pnc Financial Services Group holds 10,785K shares representing 19.42% ownership of the company. In it's prior filing, the firm reported owning 10,840K shares, representing a decrease of 0.51%. The firm increased its portfolio allocation in KTB by 8.70% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 3,658K shares representing 6.59% ownership of the company. In it's prior filing, the firm reported owning 3,606K shares, representing an increase of 1.42%. The firm increased its portfolio allocation in KTB by 9.80% over the last quarter.

Cullen Capital Management holds 3,283K shares representing 5.91% ownership of the company. In it's prior filing, the firm reported owning 10,893K shares, representing a decrease of 231.77%. The firm decreased its portfolio allocation in KTB by 66.25% over the last quarter.

Ameriprise Financial holds 3,165K shares representing 5.70% ownership of the company. In it's prior filing, the firm reported owning 3,335K shares, representing a decrease of 5.38%. The firm increased its portfolio allocation in KTB by 465.92% over the last quarter.

Capital World Investors holds 2,237K shares representing 4.03% ownership of the company. In it's prior filing, the firm reported owning 2,222K shares, representing an increase of 0.70%. The firm increased its portfolio allocation in KTB by 13.76% over the last quarter.

Kontoor Brands Background Information
(This description is provided by the company.)

Wrangler® has been an icon in authentic American style around the world for more than 70 years. With a rich legacy rooted in the American west, Wrangler commits to offering unmatched quality and timeless design. Its collections for men, women and children look and feel great, inspiring those who wear them to be strong and ready for life, every day. Wrangler is available in retail stores worldwide, including brand flagship stores in Denver and Dallas, department stores, mass-market retailers, specialty shops, western outfitters, and online.

This story originally appeared on Fintel.