Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 0.57MM shares of Citi Trends, Inc. (CTRN). This represents 6.8% of the company.
In their previous filing dated February 1, 2022 they reported 0.61MM shares and 7.10% of the company, a decrease in shares of 5.71% and a decrease in total ownership of 0.30% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 14.22% Upside
As of January 31, 2023, the average one-year price target for Citi Trends is $35.96. The forecasts range from a low of $27.27 to a high of $52.50. The average price target represents an increase of 14.22% from its latest reported closing price of $31.48.
The projected annual revenue for Citi Trends is $812MM, a decrease of 1.75%. The projected annual EPS is $1.17, a decrease of 84.43%.
Fund Sentiment
There are 270 funds or institutions reporting positions in Citi Trends. This is a decrease of 41 owner(s) or 13.18%.
Average portfolio weight of all funds dedicated to US:CTRN is 0.0715%, a decrease of 8.7187%. Total shares owned by institutions decreased in the last three months by 9.35% to 10,064K shares.
What are large shareholders doing?
Alliancebernstein holds 996,785 shares representing 12.26% ownership of the company. In it's prior filing, the firm reported owning 804,378 shares, representing an increase of 19.30%. The firm decreased its portfolio allocation in CTRN by 13.86% over the last quarter.
Paradigm Capital Management holds 748,200 shares representing 9.20% ownership of the company. In it's prior filing, the firm reported owning 466,900 shares, representing an increase of 37.60%. The firm increased its portfolio allocation in CTRN by 11.34% over the last quarter.
Jennison Associates holds 559,578 shares representing 6.88% ownership of the company. In it's prior filing, the firm reported owning 529,136 shares, representing an increase of 5.44%. The firm decreased its portfolio allocation in CTRN by 30.90% over the last quarter.
SSGSX - Victory Sycamore Small Company Opportunity Fund holds 501,645 shares representing 6.17% ownership of the company. In it's prior filing, the firm reported owning 640,600 shares, representing a decrease of 27.70%. The firm decreased its portfolio allocation in CTRN by 46.57% over the last quarter.
Soviero Asset Management holds 490,000 shares representing 6.03% ownership of the company. No change in the last quarter.
Citi Trends Declares $0.08 Dividend
Citi Trends said on February 18, 2020 that its board of directors declared a regular quarterly dividend of $0.08 per share ($0.32 annualized). Shareholders of record as of March 2, 2020 received the payment on March 17, 2020. Previously, the company paid $0.08 per share.
At the current share price of $31.48 / share, the stock's dividend yield is 1.02%. Looking back five years and taking a sample every week, the average dividend yield has been 1.61%, the lowest has been 0.98%, and the highest has been 3.69%. The standard deviation of yields is 0.55 (n=108).
The current dividend yield is 1.08 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.00. 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 -1.00%.
Citi Trends Background Information
(This description is provided by the company.)
Citi Trends, Inc. is the leading value retailer of apparel, accessories and home trends for way less spend primarily for African American and Latinx families in the United States. The Company operates 585 stores located in 33 states.
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.
