Vector Group said on March 6, 2023 that its board of directors declared a regular quarterly dividend of $0.20 per share ($0.80 annualized). Previously, the company paid $0.20 per share.
Shares must be purchased before the ex-div date of March 16, 2023 to qualify for the dividend. Shareholders of record as of March 17, 2023 will receive the payment on March 30, 2023.
At the current share price of $12.84 / share, the stock's dividend yield is 6.23%. Looking back five years and taking a sample every week, the average dividend yield has been 8.88%, the lowest has been 4.63%, and the highest has been 16.37%. The standard deviation of yields is 3.17 (n=236).
The current dividend yield is 0.84 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.79. 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 has not increased its dividend in the last three years.
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Analyst Price Forecast Suggests 23.13% Upside
As of March 8, 2023, the average one-year price target for Vector Group is $15.81. The forecasts range from a low of $15.15 to a high of $16.80. The average price target represents an increase of 23.13% from its latest reported closing price of $12.84.
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The projected annual revenue for Vector Group is $1,467MM, an increase of 59.41%. The projected annual non-GAAP EPS is $1.30.
What is the Fund Sentiment?
There are 545 funds or institutions reporting positions in Vector Group. This is an increase of 16 owner(s) or 3.02% in the last quarter. Average portfolio weight of all funds dedicated to VGR is 0.11%, an increase of 3.26%. Total shares owned by institutions decreased in the last three months by 0.32% to 117,370K shares. The put/call ratio of VGR is 1.16, indicating a bearish outlook.
What are Large Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 9,751K shares representing 6.24% ownership of the company. In it's prior filing, the firm reported owning 9,641K shares, representing an increase of 1.12%. The firm increased its portfolio allocation in VGR by 23.86% over the last quarter.
Capital Research Global Investors holds 8,301K shares representing 5.32% ownership of the company. In it's prior filing, the firm reported owning 8,958K shares, representing a decrease of 7.92%. The firm increased its portfolio allocation in VGR by 14.75% over the last quarter.
Renaissance Technologies holds 7,042K shares representing 4.51% ownership of the company. In it's prior filing, the firm reported owning 7,823K shares, representing a decrease of 11.09%. The firm increased its portfolio allocation in VGR by 17.20% over the last quarter.
CAIBX - CAPITAL INCOME BUILDER holds 6,328K shares representing 4.05% ownership of the company. No change in the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 4,079K shares representing 2.61% ownership of the company. In it's prior filing, the firm reported owning 4,013K shares, representing an increase of 1.61%. The firm increased its portfolio allocation in VGR by 26.36% over the last quarter.
Vector Group Background Information
(This description is provided by the company.)
Vector Group Ltd. is an American diversified holding company with two major businesses: Liggett Group LLC (tobacco) and New Valley LLC (real estate), including Douglas Elliman. Vector Group was previously called Brooke Group.
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.
