Fintel reports that on May 24, 2023, Barclays maintained coverage of Fortune Brands Innovations (NYSE:FBIN) with a Overweight recommendation.
Analyst Price Forecast Suggests 14.02% Upside
As of May 10, 2023, the average one-year price target for Fortune Brands Innovations is 71.67. The forecasts range from a low of 48.48 to a high of $88.20. The average price target represents an increase of 14.02% from its latest reported closing price of 62.86.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Fortune Brands Innovations is 7,759MM, an increase of 67.84%. The projected annual non-GAAP EPS is 5.79.
Fortune Brands Innovations Declares $0.23 Dividend
On May 16, 2023 the company declared a regular quarterly dividend of $0.23 per share ($0.92 annualized). Shareholders of record as of May 26, 2023 will receive the payment on July 14, 2023. Previously, the company paid $0.23 per share.
At the current share price of $62.86 / share, the stock's dividend yield is 1.46%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.51%, the lowest has been 0.93%, and the highest has been 2.76%. The standard deviation of yields is 0.35 (n=236).
The current dividend yield is 0.14 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.24. 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 0.17%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1273 funds or institutions reporting positions in Fortune Brands Innovations. This is a decrease of 10 owner(s) or 0.78% in the last quarter. Average portfolio weight of all funds dedicated to FBIN is 0.19%, an increase of 14.12%. Total shares owned by institutions increased in the last three months by 0.81% to 133,058K shares. 
The put/call ratio of FBIN is 0.28, indicating a bullish outlook.
What are Other Shareholders Doing?
Wellington Management Group Llp holds 7,569K shares representing 5.97% ownership of the company. In it's prior filing, the firm reported owning 7,646K shares, representing a decrease of 1.01%. The firm decreased its portfolio allocation in FBIN by 85.80% over the last quarter.
Jpmorgan Chase holds 5,278K shares representing 4.17% ownership of the company. In it's prior filing, the firm reported owning 5,348K shares, representing a decrease of 1.33%. The firm decreased its portfolio allocation in FBIN by 6.22% over the last quarter.
Harris Associates L P holds 4,478K shares representing 3.53% ownership of the company. In it's prior filing, the firm reported owning 4,238K shares, representing an increase of 5.36%. The firm increased its portfolio allocation in FBIN by 1.99% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 3,960K shares representing 3.13% ownership of the company.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,880K shares representing 3.06% ownership of the company. In it's prior filing, the firm reported owning 3,849K shares, representing an increase of 0.81%. The firm decreased its portfolio allocation in FBIN by 0.96% over the last quarter.
Fortune Brands Innovations Background Information
(This description is provided by the company.)
Fortune Brands Home & Security, Inc., headquartered in Deerfield, IL., creates products and services that fulfill the dreams of home. The Company's operating segments are Plumbing, Cabinets and Outdoors & Security. Its trusted brands include Moen, Riobel, Perrin & Rowe, Shaws, Victoria + Albert and Rohl under the Global Plumbing Group (GPG); more than a dozen core brands under MasterBrand Cabinets; Therma-Tru entry door systems, LARSON storm, screen and security doors, Fiberon composite decking and Master Lock and SentrySafe security products in the Outdoors & Security segment. Fortune Brands holds market leadership positions in all of its segments. Fortune Brands is part of the S&P 500 Index and a Fortune 500 Company.
Key filings for this company:
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.
