Perkinelmer (PKI) Declares $0.07 Dividend

Perkinelmer said on April 25, 2023 that its board of directors declared a regular quarterly dividend of $0.07 per share ($0.28 annualized). Previously, the company paid $0.07 per share.

Shares must be purchased before the ex-div date of July 20, 2023 to qualify for the dividend. Shareholders of record as of July 21, 2023 will receive the payment on August 11, 2023.

At the current share price of $129.64 / share, the stock's dividend yield is 0.22%. Looking back five years and taking a sample every week, the average dividend yield has been 0.25%, the lowest has been 0.14%, and the highest has been 0.42%. The standard deviation of yields is 0.07 (n=235).

The current dividend yield is 0.52 standard deviations below the historical average.

Additionally, the company's dividend payout ratio is 0.06. 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 has not increased its dividend in the last three years.

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What is the Fund Sentiment?

There are 1189 funds or institutions reporting positions in Perkinelmer. This is an increase of 28 owner(s) or 2.41% in the last quarter. Average portfolio weight of all funds dedicated to PKI is 0.19%, a decrease of 15.13%. Total shares owned by institutions decreased in the last three months by 4.17% to 131,766K shares. The put/call ratio of PKI is 1.30, indicating a bearish outlook.

Analyst Price Forecast Suggests 22.94% Upside

As of April 24, 2023, the average one-year price target for Perkinelmer is 159.39. The forecasts range from a low of 135.34 to a high of $194.25. The average price target represents an increase of 22.94% from its latest reported closing price of 129.64.

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

The projected annual revenue for Perkinelmer is 3,591MM, an increase of 8.43%. The projected annual non-GAAP EPS is 6.04.

What are Other Shareholders Doing?

Capital Research Global Investors holds 12,861K shares representing 10.17% ownership of the company. In it's prior filing, the firm reported owning 14,312K shares, representing a decrease of 11.28%. The firm decreased its portfolio allocation in PKI by 3.67% over the last quarter.

Select Equity Group holds 9,778K shares representing 7.73% ownership of the company. In it's prior filing, the firm reported owning 8,757K shares, representing an increase of 10.44%. The firm increased its portfolio allocation in PKI by 40.30% over the last quarter.

T. Rowe Price Investment Management holds 9,398K shares representing 7.43% ownership of the company. In it's prior filing, the firm reported owning 13,704K shares, representing a decrease of 45.82%. The firm decreased its portfolio allocation in PKI by 23.24% over the last quarter.

PRWCX - T. Rowe Price Capital Appreciation Fund holds 5,883K shares representing 4.65% ownership of the company. In it's prior filing, the firm reported owning 8,666K shares, representing a decrease of 47.31%. The firm decreased its portfolio allocation in PKI by 22.86% over the last quarter.

AMCPX - AMCAP FUND holds 5,416K shares representing 4.28% ownership of the company. In it's prior filing, the firm reported owning 5,072K shares, representing an increase of 6.34%. The firm decreased its portfolio allocation in PKI by 4.59% over the last quarter.

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

PerkinElmer enables scientists, researchers, and clinicians to address their most critical challenges across science and healthcare. With a mission focused on innovating for a healthier world, the company delivers unique solutions to serve the diagnostics, life sciences, food, and applied markets. IT strategically partners with customers to enable earlier and more accurate insights supported by deep market knowledge and technical expertise. Its dedicated team of about 14,000 employees worldwide is passionate about helping customers work to create healthier families, improve the quality of life, and sustain the wellbeing and longevity of people globally. The Company reported revenue of approximately $3.8 billion in 2020, serves customers in 190 countries, and is a component of the S&P 500 index.

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.