Shutterstock (SSTK) Declares $0.27 Dividend

Shutterstock said on January 30, 2023 that its board of directors declared a regular quarterly dividend of $0.27 per share ($1.08 annualized). Shareholders of record as of March 1, 2023 will receive the payment on March 16, 2023. Previously, the company paid $0.24 per share.

At the current share price of $76.68 / share, the stock's dividend yield is 1.41%. Looking back five years and taking a sample every week, the average dividend yield has been 1.29%, the lowest has been 0.67%, and the highest has been 2.29%. The standard deviation of yields is 0.45 (n=139).

The current dividend yield is 0.27 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.40. 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.

Analyst Price Forecast Suggests 17.86% Downside

As of February 2, 2023, the average one-year price target for Shutterstock is $62.98. The forecasts range from a low of $47.47 to a high of $73.50. The average price target represents a decrease of 17.86% from its latest reported closing price of $76.68.

The projected annual revenue for Shutterstock is $848MM, an increase of 3.95%. The projected annual EPS is $3.59, an increase of 51.18%.

Fund Sentiment

There are 531 funds or institutions reporting positions in Shutterstock. This is a decrease of 28 owner(s) or 5.01%.

Average portfolio weight of all funds dedicated to US:SSTK is 0.1547%, a decrease of 12.7523%. Total shares owned by institutions decreased in the last three months by 2.28% to 29,983K shares.

What are large shareholders doing?

IJR - iShares Core S&P Small-Cap ETF holds 1,757,654 shares representing 4.91% ownership of the company. In it's prior filing, the firm reported owning 1,619,268 shares, representing an increase of 7.87%. The firm decreased its portfolio allocation in SSTK by 3.56% over the last quarter.

Macquarie Group holds 1,316,027 shares representing 3.67% ownership of the company. In it's prior filing, the firm reported owning 1,140,635 shares, representing an increase of 13.33%. The firm increased its portfolio allocation in SSTK by 10.35% over the last quarter.

WMGRX - Ivy Mid Cap Growth Fund Class R holds 996,072 shares representing 2.78% ownership of the company. In it's prior filing, the firm reported owning 885,072 shares, representing an increase of 11.14%. The firm increased its portfolio allocation in SSTK by 2.63% over the last quarter.

Copeland Capital Management holds 983,179 shares representing 2.75% ownership of the company. In it's prior filing, the firm reported owning 729,313 shares, representing an increase of 25.82%. The firm decreased its portfolio allocation in SSTK by 53.68% over the last quarter.

Renaissance Technologies holds 906,801 shares representing 2.53% ownership of the company. In it's prior filing, the firm reported owning 994,901 shares, representing a decrease of 9.72%. The firm decreased its portfolio allocation in SSTK by 4.65% over the last quarter.

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

Shutterstock, Inc. (NYSE: SSTK), directly and through its group subsidiaries, is a leading global provider of high-quality licensed photographs, vectors, illustrations, videos and music to businesses, marketing agencies and media organizations around the world. Working with its growing community of over 1 million contributors, Shutterstock adds hundreds of thousands of images each week, and currently has more than 350 million images and more than 20 million video clips available. Headquartered in New York City, Shutterstock has offices around the world and customers in more than 150 countries. The company's brands also include Bigstock, a value-oriented stock media offering; Shutterstock Custom, a custom content creation platform; Offset, a high-end image collection; PremiumBeat, a curated royalty-free music library; and Shutterstock Editorial, a premier source of editorial images and videos for the world's media.

This story originally appeared on Fintel.