World Wrestling Entertainment said on January 26, 2023 that its board of directors declared a regular quarterly dividend of $0.12 per share ($0.48 annualized). Shareholders of record as of March 14, 2023 will receive the payment on March 27, 2023. Previously, the company paid $0.12 per share.
At the current share price of $84.95 / share, the stock’s dividend yield is 0.57%. Looking back five years and taking a sample every week, the average dividend yield has been 0.85%, the lowest has been 0.49%, and the highest has been 1.58%. The standard deviation of yields is 0.23 (n=236).
The current dividend yield is 1.24 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.16. 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.
Analyst Price Forecast Suggests 4.24% Upside
As of January 30, 2023, the average one-year price target for World Wrestling Entertainment is $88.55. The forecasts range from a low of $52.52 to a high of $116.55. The average price target represents an increase of 4.24% from its latest reported closing price of $84.95.
The projected annual revenue for World Wrestling Entertainment is $1,389MM, an increase of 8.81%. The projected annual EPS is $2.78, a decrease of 5.69%.
Fund Sentiment
There are 672 funds or institutions reporting positions in World Wrestling Entertainment. This is an increase of 34 owner(s) or 5.33% in the last quarter.
Average portfolio weight of all funds dedicated to US:WWE is 0.2573%, an increase of 18.5544%. Total shares owned by institutions increased in the last three months by 0.18% to 57,925K shares.
What are large shareholders doing?
Lindsell Train holds 7,463,627 shares representing 10.03% ownership of the company. In it’s prior filing, the firm reported owning 8,075,056 shares, representing a decrease of 8.19%. The firm decreased its portfolio allocation in WWE by 15.69% over the last quarter.
Ninety One UK holds 2,552,837 shares representing 3.43% ownership of the company. In it’s prior filing, the firm reported owning 2,460,023 shares, representing an increase of 3.64%. The firm increased its portfolio allocation in WWE by 29.26% over the last quarter.
American Century Companies holds 1,814,468 shares representing 2.44% ownership of the company. In it’s prior filing, the firm reported owning 2,449,607 shares, representing a decrease of 35.00%. The firm decreased its portfolio allocation in WWE by 10.51% over the last quarter.
Independent Franchise Partners LLP holds 1,710,700 shares representing 2.30% ownership of the company. In it’s prior filing, the firm reported owning 1,724,182 shares, representing a decrease of 0.79%. The firm increased its portfolio allocation in WWE by 24.67% over the last quarter.
Ubs Asset Management Americas holds 1,558,232 shares representing 2.09% ownership of the company. In it’s prior filing, the firm reported owning 1,605,988 shares, representing a decrease of 3.06%. The firm decreased its portfolio allocation in WWE by 83.09% over the last quarter.
World Wrestling Entertainment Background Information
(This description is provided by the company.)
WWE, a publicly traded company, is an integrated media organization and recognized leader in global entertainment. The Company consists of a portfolio of businesses that create and deliver original content 52 weeks a year to a global audience. WWE is committed to family friendly entertainment on its television programming, pay-per-view, digital media and publishing platforms. WWE’s TV-PG, family-friendly programming can be seen in more than 800 million homes worldwide in 28 languages. WWE Network, the first-ever 24/7 over-the-top premium network that includes all live pay-per-views, scheduled programming and a massive video-on-demand library, is currently available in more than 180 countries. The Company is headquartered in Stamford, Conn., with offices in New York, Los Angeles, London, Mexico City, Mumbai, Shanghai, Singapore, Dubai, Munich and Tokyo.
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.