The furniture maker Bassett said on July 12, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.72 annually). Previously, the company paid $0.16 per share.
Shares must be purchased before the ex-div date of August 10, 2023 to qualify for the dividend. Shareholders of record as of August 11, 2023 will receive payment on August 25, 2023.
At the current share price of $15.71 per share, the dividend yield is 4.58%.
Looking back over five years and sampling each week, the average dividend yield was 3.42%, the lowest was 1.41%, and the highest was 10.71%. The standard deviation of the returns is 1.48 (n = 236).
The current return is 0.79 standard deviations above the historical average.
In addition, the company’s dividend payout ratio is 0.09. 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 that 100% of the company’s income is paid out in the form of dividends. A payout ratio greater than one means that the company is indulging in savings in order to maintain its earnings — not a healthy situation. Companies with little growth potential are expected to pay out most of their income in the form of 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 these growth prospects, which translates to a payout rate of zero to 0.5.
The company’s 3-year earnings growth rate is 0.28%, which indicates that it has increased its earnings over time.
What is fund sentiment?
There are 141 funds or foundations reporting positions in the furniture maker Bassett. This represents a decrease of 10 owner(s), or 6.62%, in the most recent quarter. The average weight of the wallet From all the boxes Dedicated to BSET is 0.08%, down 5.55%. The total shares owned by institutions in the past three months decreased by 1.33% to 6,338 thousand shares. The buy/sell ratio on BSET is 0.50, which indicates a bullish outlook.
Analysts’ expectations are for a rise of 68.81%.
As of July 6, 2023, the one-year average price target for Bassett Furniture Industries is $26.52. Forecasts range from $25.25 to $28.35. The average price target represents an increase of 68.81% from the last announced closing price of 15.71.
See our leaderboard list of companies with the highest price target up.
Bassett Furniture Industries’ projected annual revenue is 466 million, a decrease of 2.07%. The expected annualized return for non-GAAP earnings per share is 2.14.
What do other shareholders do?
Gamco Investors, Inc. Et Al 586 thousand shares representing 6.56% ownership of the company. In the advance filing, the company reported holding 588,000 shares, represented by drop 0.37%. a company more The allocation of its portfolio in BSET increased by 2.08% over the last quarter.
EQ ADVISORS TRUST – 1290 VT GAMCO Small Company Value Portfolio Class IA owns 380,000 shares representing 4.26% ownership in the company. No change in the last quarter.
Renaissance Technologies owns 377 thousand shares, representing 4.22% ownership of the company. In the advance filing, the company reported holding 408,000 shares, represented by drop from 8.09%. a company dropped The allocation of its portfolio in BSET increased by 8.10% over the last quarter.
Acadian Asset Management owns 367 thousand shares representing 4.10% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund – Investors own 346,000 shares representing 3.87% ownership in the company. In the advance filing, the company reported holding 316,000 shares more 8.42%. a company more The allocation of its portfolio in BSET increased by 3.26% over the last quarter.
Background information for Bassett Furniture Industries
(This description is provided by the company.)
Bassett Furniture Company is a leading manufacturer and marketer of high quality home furnishings. With 97 company-owned and licensed stores at the time of this release, Bassett has leveraged its strong brand name in furniture into a network of companies and licensed stores focused on providing consumers with a friendly environment for purchasing furniture and accessories. Bassett’s retail strategy includes elegant, bespoke furniture featuring the latest contemporary furniture styles, complimentary in-home design visits, and curated decorating accessories. Bassett also has a traditional wholesale business with more than 700 accounts on the open market, throughout the United States and internationally, as well as a logistics company specializing in home furnishings.
This story originally appeared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect the views and opinions of Nasdaq, Inc.