The average one-year price target for ITC (NSE:ITC) has been increased to 470.55/share, which is a 6.74% rise from the previous estimate of 440.84 dated May 10, 2023.
This price target is an average of several targets provided by analysts. The latest targets range from a low of 383.80 to a high of 546.00/share. The average price target is a 5.67% increase from the latest reported closing price of 445.30/share.
For a leaderboard of companies with the largest price target upside, visit our website.
ITC Maintains 2.86% Dividend Yield
The company’s dividend yield stands at 2.86% at the most recent price.
The company’s dividend payout ratio is 0.83. This ratio indicates how much of a company’s income is paid out in dividends, where a payout ratio of one (1.0) means 100% of the company’s income is paid as a dividend. A payout ratio greater than one implies that the company is utilizing savings to keep its dividend, which is not a healthy situation. On the other hand, companies with few growth prospects are likely to pay out most of their income in dividends, resulting in a payout ratio ranging from 0.5 to 1.0. Companies with good growth prospects generally tend to retain some of their earnings for investing in those growth prospects, resulting in a payout ratio of zero to 0.5.
The company’s 3-year dividend growth rate is 1.22%, indicating that it has increased its dividend over time. To get a list of companies with the highest dividend yield, go to Fintel’s Dividend Screener.
Fund Sentiment
There are 212 funds or institutions reporting positions in ITC, indicating an increase of 9 owners or 4.43% in the last quarter. The average portfolio weight of all the funds dedicated to ITC is 0.62%, a rise of 1.70%. The total shares owned by institutions increased in the last three months by 3.94% to 932,242K shares.
Other Shareholders
GQGPX – GQG PARTNERS EMERGING MARKETS EQUITY FUND Investor Shares owns 178,772K shares, representing 1.44% ownership of the company. The firm’s previous filing stated that it owned 159,600K shares, representing an increase of 10.72%. The portfolio allocation in ITC increased by 12.73% over the previous quarter.
CAIBX – CAPITAL INCOME BUILDER owns 93,388K shares, representing 0.75% ownership of the company. The firm’s previous filing indicated that it owned 100,225K shares, representing a decrease of 7.32%. The portfolio allocation in ITC decreased by 11.54% over the previous quarter.
GSIHX – Goldman Sachs GQG Partners International Opportunities Fund Shares owns 91,049K shares, representing 0.73% ownership of the company. The firm’s earlier filing stated that it owned 75,721K shares, representing a 16.83% increase. The portfolio allocation in ITC increased by 8.16% over the previous quarter.
NEWFX – NEW WORLD FUND INC owns 60,618K shares, representing 0.49% ownership of the company. There was no change in the last quarter.
GBLAX – AMERICAN FUNDS GLOBAL BALANCED FUND owns 53,250K shares, representing 0.43% ownership of the company. The firm’s earlier filing showed that it owned 54,447K shares, representing a 2.25% decrease. The portfolio allocation in ITC decreased by 8.55% over the previous quarter.
This story was originally shared on Fintel.
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
