SNA

Baird Maintains Snap-on (SNA) Neutral Recommendation

Fintel reports that on July 21, 2023, Baird maintained coverage of Snap-on (NYSE:SNA) with a Neutral recommendation.

Analyst Price Forecast Suggests 7.11% Downside

As of July 6, 2023, the average one-year price target for Snap-on is 255.93. The forecasts range from a low of 191.90 to a high of $312.90. The average price target represents a decrease of 7.11% from its latest reported closing price of 275.51.

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

The projected annual revenue for Snap-on is 4,630MM, a decrease of 7.29%. The projected annual non-GAAP EPS is 16.83.

Snap-on Declares $1.62 Dividend

On April 27, 2023 the company declared a regular quarterly dividend of $1.62 per share ($6.48 annualized). Shareholders of record as of May 19, 2023 received the payment on June 9, 2023. Previously, the company paid $1.62 per share.

At the current share price of $275.51 / share, the stock's dividend yield is 2.35%.

Looking back five years and taking a sample every week, the average dividend yield has been 2.55%, the lowest has been 1.76%, and the highest has been 4.52%. The standard deviation of yields is 0.39 (n=235).

The current dividend yield is 0.50 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.35. 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 0.50%, demonstrating that it has increased its dividend over time.

What is the Fund Sentiment?

There are 1511 funds or institutions reporting positions in Snap-on. This is an increase of 20 owner(s) or 1.34% in the last quarter. Average portfolio weight of all funds dedicated to SNA is 0.24%, a decrease of 18.92%. Total shares owned by institutions increased in the last three months by 7.47% to 54,143K shares. SNA / Snap-on, Inc. Put/Call Ratios The put/call ratio of SNA is 0.71, indicating a bullish outlook.

What are Other Shareholders Doing?

SNA / Snap-on, Inc. Shares Held by Institutions

Envestnet Asset Management holds 5,350K shares representing 10.11% ownership of the company. In it's prior filing, the firm reported owning 501K shares, representing an increase of 90.64%. The firm increased its portfolio allocation in SNA by 9.44% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,646K shares representing 3.11% ownership of the company. In it's prior filing, the firm reported owning 1,614K shares, representing an increase of 1.94%. The firm increased its portfolio allocation in SNA by 1.74% over the last quarter.

Geode Capital Management holds 1,332K shares representing 2.52% ownership of the company. In it's prior filing, the firm reported owning 1,388K shares, representing a decrease of 4.19%. The firm decreased its portfolio allocation in SNA by 4.08% over the last quarter.

Jpmorgan Chase holds 1,256K shares representing 2.37% ownership of the company. In it's prior filing, the firm reported owning 1,247K shares, representing an increase of 0.69%. The firm decreased its portfolio allocation in SNA by 87.38% over the last quarter.

VIMSX - Vanguard Mid-Cap Index Fund Investor Shares holds 1,241K shares representing 2.34% ownership of the company. In it's prior filing, the firm reported owning 1,236K shares, representing an increase of 0.37%. The firm increased its portfolio allocation in SNA by 4.98% over the last quarter.

Snap-on Background Information
(This description is provided by the company.)

Snap-on Incorporated is a leading global innovator, manufacturer and marketer of tools, equipment, diagnostics, repair information and systems solutions for professional users performing critical tasks. Products and services include hand and power tools, tool storage, diagnostics software, information and management systems, shop equipment and other solutions for vehicle dealerships and repair centers, as well as for customers in industries, including aviation and aerospace, agriculture, construction, government and military, mining, natural resources, power generation and technical education. Snap-on also derives income from various financing programs to facilitate the sales of its products and support its franchise business. Products and services are sold through the company's franchisee, company-direct, distributor and internet channels. Founded in 1920, Snap-on is a $3.6 billion, S&P 500 company headquartered in Kenosha, Wisconsin.

Additional reading:

This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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