Fintel reports that Fmr has filed a 13G/A form with the SEC disclosing ownership of 0.91MM shares of Rocky Brands Inc (RCKY). This represents 12.361% of the company.
In their previous filing dated July 11, 2022 they reported 0.74MM shares and 10.05% of the company, an increase in shares of 23.19% and an increase in total ownership of 2.31% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 50.26% Upside
As of February 4, 2023, the average one-year price target for Rocky Brands is $43.86. The forecasts range from a low of $24.24 to a high of $65.10. The average price target represents an increase of 50.26% from its latest reported closing price of $29.19.
The projected annual revenue for Rocky Brands is $601MM, a decrease of 6.97%. The projected annual EPS is $3.83, an increase of 5.23%.
What is the Fund Sentiment?
There are 225 funds or institutions reporting positions in Rocky Brands. This is a decrease of 16 owner(s) or 6.64% in the last quarter. Average portfolio weight of all funds dedicated to RCKY is 0.08%, a decrease of 10.54%. Total shares owned by institutions decreased in the last three months by 0.21% to 7,022K shares.
What are large shareholders doing?
Raymond James & Associates holds 595K shares representing 8.13% ownership of the company. In it's prior filing, the firm reported owning 532K shares, representing an increase of 10.67%. The firm increased its portfolio allocation in RCKY by 19.60% over the last quarter.
Hawkeye Capital Management holds 349K shares representing 4.76% ownership of the company. In it's prior filing, the firm reported owning 357K shares, representing a decrease of 2.38%. The firm decreased its portfolio allocation in RCKY by 31.31% over the last quarter.
Royce & Associates holds 304K shares representing 4.15% ownership of the company. In it's prior filing, the firm reported owning 276K shares, representing an increase of 9.27%. The firm decreased its portfolio allocation in RCKY by 28.95% over the last quarter.
Kennedy Capital Management holds 238K shares representing 3.25% ownership of the company. In it's prior filing, the firm reported owning 222K shares, representing an increase of 6.86%. The firm decreased its portfolio allocation in RCKY by 33.81% over the last quarter.
Lsv Asset Management holds 215K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 219K shares, representing a decrease of 2.00%. The firm increased its portfolio allocation in RCKY by 8.37% over the last quarter.
Rocky Brands Declares $0.16 Dividend
On November 15, 2022 the company declared a regular quarterly dividend of $0.16 per share ($0.62 annualized). Shareholders of record as of November 30, 2022 received the payment on December 15, 2022. Previously, the company paid $0.16 per share.
At the current share price of $29.19 / share, the stock's dividend yield is 2.12%. Looking back five years and taking a sample every week, the average dividend yield has been 1.90%, the lowest has been 0.89%, and the highest has been 3.55%. The standard deviation of yields is 0.53 (n=236).
The current dividend yield is 0.43 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.17. 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 0.11%, demonstrating that it has increased its dividend over time.
Rocky Brands Background Information
(This description is provided by the company.)
Rocky Brands, Inc. is a leading designer, manufacturer and marketer of premium quality footwear and apparel marketed under a portfolio of well recognized brand names including Rocky®, Georgia Boot®, Durango®, Lehigh®, and the licensed brand Michelin®.
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.
