Fintel reports that on July 27, 2023, Baird upgraded their outlook for Silgan Holdings (NASDAQ:SLGN) from Neutral to Outperform .
Analyst Price Forecast Suggests 37.35% Upside
As of July 6, 2023, the average one-year price target for Silgan Holdings is 59.57. The forecasts range from a low of 50.50 to a high of $67.20. The average price target represents an increase of 37.35% from its latest reported closing price of 43.37.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Silgan Holdings is 6,701MM, an increase of 6.86%. The projected annual non-GAAP EPS is 4.20.
Silgan Holdings Declares $0.18 Dividend
On May 1, 2023 the company declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Shareholders of record as of June 1, 2023 received the payment on June 15, 2023. Previously, the company paid $0.18 per share.
At the current share price of $43.37 / share, the stock's dividend yield is 1.66%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.41%, the lowest has been 1.10%, and the highest has been 1.90%. The standard deviation of yields is 0.12 (n=236).
The current dividend yield is 2.01 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.25. 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 700 funds or institutions reporting positions in Silgan Holdings. This is an increase of 15 owner(s) or 2.19% in the last quarter. Average portfolio weight of all funds dedicated to SLGN is 0.24%, a decrease of 3.39%. Total shares owned by institutions decreased in the last three months by 4.99% to 93,441K shares. 
The put/call ratio of SLGN is 0.68, indicating a bullish outlook.
What are Other Shareholders Doing?
Jpmorgan Chase holds 4,030K shares representing 3.66% ownership of the company. In it's prior filing, the firm reported owning 4,399K shares, representing a decrease of 9.17%. The firm decreased its portfolio allocation in SLGN by 12.37% over the last quarter.
Wellington Management Group Llp holds 3,508K shares representing 3.18% ownership of the company. In it's prior filing, the firm reported owning 3,736K shares, representing a decrease of 6.49%. The firm decreased its portfolio allocation in SLGN by 86.44% over the last quarter.
Cardinal Capital Management holds 3,054K shares representing 2.77% ownership of the company. In it's prior filing, the firm reported owning 3,411K shares, representing a decrease of 11.66%. The firm increased its portfolio allocation in SLGN by 1.68% over the last quarter.
JMVSX - JPMorgan Mid Cap Value Fund Class I holds 2,894K shares representing 2.63% ownership of the company. In it's prior filing, the firm reported owning 3,179K shares, representing a decrease of 9.84%. The firm decreased its portfolio allocation in SLGN by 3.86% over the last quarter.
AMERICAN FUNDS INSURANCE SERIES - Growth Fund Class 1 holds 2,858K shares representing 2.59% ownership of the company. No change in the last quarter.
Silgan Holdings Background Information
(This description is provided by the company.)
Headquartered in Stamford, Connecticut, Silgan is a leading supplier of rigid packaging for consumer goods products with annual net sales of approximately $4.5 billion in 2019. Silgan operates 100 manufacturing facilities in North and South America, Europe and Asia. The Company is a leading supplier of metal containers in North America and Europe for food and general line products. The Company is also a leading worldwide supplier of metal and plastic closures and dispensing systems for food, beverage, health care, garden, personal care, home and beauty products. In addition, the Company is a leading supplier of plastic containers for shelf-stable food and personal care products in North America.
Additional reading:
- SILGAN ANNOUNCES SECOND QUARTER 2023 RESULTS
- Silgan Holdings Inc. Second Amended and Restated 2004 Stock Incentive Plan.
- SILGAN DECLARES QUARTERLY DIVIDEND
- SILGAN ANNOUNCES FIRST QUARTER 2023 RESULTS
- SILGAN HOLDINGS ANNOUNCES D. GREG HORRIGAN WILL NOT SEEK REELECTION AS A DIRECTOR
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.
