Bassett Furniture Industries said on July 12, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.72 annualized). Previously, the company paid $0.16 per share.
Shares must be purchased before the ex-div date of August 10, 2023 to be eligible for the dividend. Shareholders of record as of August 11, 2023 will receive payment on August 25, 2023.
At the current share price of $15.71/share, the dividend yield of the stock is 4.58%.
Looking back five years and taking a sample each week, the average dividend yield was 3.42%, the low 1.41% and the high 10.71%. The standard deviation of returns is 1.48 (n=236).
The current dividend yield is 0.79 standard deviation above the historical average.
Additionally, the company’s dividend payout ratio is 0.09. The payout ratio tells us how much of a company’s income is paid out as dividends. A payout ratio of one (1.0) means that 100% of the company’s income is paid out as dividends. A payout ratio above one means the company is dipping into its savings to maintain its dividend, which is not a healthy situation. Companies with little growth prospects should pay most of their income in the form of dividends, which generally means a payout ratio between 0.5 and 1.0. Companies with good growth prospects should retain part of their profits in order to invest in these growth prospects, which translates into a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 0.28%, demonstrating that it has increased its dividend over time.
What is fund sentiment?
There are 141 funds or institutions reporting positions in Bassett Furniture Industries. This is a decrease of 10 owner(s) or 6.62% in the last quarter. Average portfolio weight of all funds dedicated to BSET is 0.08%, a decrease of 5.55%. The total number of shares held by institutions has decreased over the past three months by 1.33% to 6,338,000 shares. 
BSET’s put/call ratio is 0.50, indicating a bullish outlook.
Analyst price forecast suggests 68.81% upside
As of July 6, 2023, the one-year average price target for Bassett Furniture Industries was 26.52. The forecast ranges from a low of $25.25 to a high of $28.35. The average price target represents a 68.81% increase from its last published closing price of 15.71.
Check out our ranking of companies with the biggest upward price target.
The forecast annual revenue for Bassett Furniture Industries is 466 million, a decrease of 2.07%. Projected annual non-GAAP EPS is 2.14.
What are the other shareholders doing?
Gamco Investors, Inc. Et Al owns 586,000 shares representing 6.56% ownership of the company. In its previous filing, the company said it held 588,000 shares, representing a decrease by 0.37%. The company increase its portfolio allocation in BSET by 2.08% in the last quarter.
EQ ADVISORS TRUST – 1290 VT GAMCO Small Company Value Portfolio Class IA holds 380,000 shares representing 4.26% of the company. No change in the last quarter.
Renaissance Technologies holds 377,000 shares representing 4.22% ownership of the company. In its previous filing, the company said it held 408,000 shares, representing a decrease of 8.09%. The company decreases its portfolio allocation in BSET by 8.10% in the last quarter.
Acadian Asset Management holds 367,000 shares representing 4.10% ownership of the company. No change in the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares owns 346,000 shares representing 3.87% ownership of the company. In its previous filing, the company said it held 316,000 shares, representing a raise of 8.42%. The company increase its portfolio allocation in BSET by 3.26% in the last quarter.
General Information About Bassett Furniture Industries
(This description is provided by the company.)
Bassett Furniture Industries, Inc. is a leading manufacturer and marketer of high quality home furnishings. With 97 corporate and licensee-owned stores at the time of this publication, Bassett has leveraged its strong furniture brand into a network of corporate and licensed stores that focus on providing consumers with a friendly environment for the purchase of furniture and accessories. Bassett’s retail strategy includes stylish, bespoke furniture that features the latest on-trend furniture styles, free in-home design tours, and coordinating home accessories. Bassett also has a traditional wholesale business with over 700 accounts in the open market, both in the United States and abroad, and a logistics business specializing in furniture.
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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.