Cognex (CGNX) Declares $0.07 Dividend

Cognex said on May 4, 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 May 18, 2023 to qualify for the dividend. Shareholders of record as of May 19, 2023 will receive the payment on June 2, 2023.

At the current share price of $50.49 / share, the stock's dividend yield is 0.55%.

Looking back five years and taking a sample every week, the average dividend yield has been 0.41%, the lowest has been 0.25%, and the highest has been 0.62%. The standard deviation of yields is 0.10 (n=237).

The current dividend yield is 1.44 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.28. 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 0.27%, demonstrating that it has increased its dividend over time.

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What is the Fund Sentiment?

There are 1014 funds or institutions reporting positions in Cognex. This is a decrease of 15 owner(s) or 1.46% in the last quarter. Average portfolio weight of all funds dedicated to CGNX is 0.25%, a decrease of 4.09%. Total shares owned by institutions increased in the last three months by 0.15% to 186,895K shares. The put/call ratio of CGNX is 0.41, indicating a bullish outlook.

Analyst Price Forecast Suggests 2.60% Upside

As of April 24, 2023, the average one-year price target for Cognex is 51.80. The forecasts range from a low of 40.40 to a high of $68.25. The average price target represents an increase of 2.60% from its latest reported closing price of 50.49.

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

The projected annual revenue for Cognex is 1,039MM, an increase of 12.35%. The projected annual non-GAAP EPS is 1.47.

What are Other Shareholders Doing?

Bank of New York Mellon holds 11,132K shares representing 6.45% ownership of the company. In it's prior filing, the firm reported owning 11,390K shares, representing a decrease of 2.31%. The firm increased its portfolio allocation in CGNX by 4.51% over the last quarter.

Brown Capital Management holds 6,063K shares representing 3.51% ownership of the company. In it's prior filing, the firm reported owning 7,336K shares, representing a decrease of 21.00%. The firm increased its portfolio allocation in CGNX by 10.82% over the last quarter.

IJH - iShares Core S&P Mid-Cap ETF holds 5,340K shares representing 3.09% ownership of the company. In it's prior filing, the firm reported owning 5,067K shares, representing an increase of 5.12%. The firm increased its portfolio allocation in CGNX by 4.55% over the last quarter.

Alliancebernstein holds 5,294K shares representing 3.07% ownership of the company. In it's prior filing, the firm reported owning 5,143K shares, representing an increase of 2.87%. The firm increased its portfolio allocation in CGNX by 8.77% over the last quarter.

T. Rowe Price Investment Management holds 5,055K shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 5,059K shares, representing a decrease of 0.08%. The firm increased its portfolio allocation in CGNX by 9.08% over the last quarter.

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

Cognex Corporation designs, develops, manufactures, and markets a wide range of image-based products, which use artificial intelligence (AI) techniques that give them the human-like ability to make decisions on what they see. Cognex products include machine vision systems, machine vision sensors, and barcode readers that are used in factories and distribution centers around the world where they eliminate production and shipping errors.

This story originally appeared on Fintel.