According to Fintel reports, Wells Fargo has decided to maintain its coverage of Leidos Holdings (NYSE:LDOS) with an Overweight recommendation. This was announced on September 18, 2023.
Analyst Price Forecast Suggests 24.82% Upside
As of August 31, 2023, the average one-year price target for Leidos Holdings is 116.79. The range of forecasts is from a low of 101.00 to a high of $135.45. The average price target represents an increase of 24.82% from its latest reported closing price of 93.57.
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The projected annual revenue for Leidos Holdings is 15,355MM, which is an increase of 3.46%. The projected annual non-GAAP EPS is 7.15.
Leidos Holdings Declares $0.36 Dividend
On July 28, 2023, the company announced a regular quarterly dividend of $0.36 per share ($1.44 annualized). Shareholders of record as of September 15, 2023, will receive the payment on September 29, 2023. Previously, the company paid $0.36 per share.
At the current share price of $93.57 / share, the stock’s dividend yield is 1.54%.
Looking back five years and taking a sample every week, the average dividend yield has been 1.55%, the lowest has been 1.19%, and the highest has been 2.53%. The standard deviation of yields is 0.24 (n=236).
The current dividend yield is 0.03 standard deviations below the historical average.
Additionally, the company’s dividend payout ratio is 0.28. 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 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 to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.06%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 1149 funds or institutions reporting positions in Leidos Holdings. This is a decrease of 108 owners or 8.59% in the last quarter. The average portfolio weight of all funds dedicated to LDOS is 0.21%, an increase of 3.89%. Total shares owned by institutions decreased in the last three months by 1.46% to 121,780K shares. 
The put/call ratio of LDOS is 0.55, indicating a bullish outlook.
What are Other Shareholders Doing?
Victory Capital Management holds 4,959K shares representing 3.61% ownership of the company. In its prior filing, the firm reported owning 4,419K shares, representing an increase of 10.90%. The firm increased its portfolio allocation in LDOS by 5.16% over the last quarter.
Wellington Management Group Llp holds 4,388K shares representing 3.19% ownership of the company. In its prior filing, the firm reported owning 5,099K shares, representing a decrease of 16.20%. The firm decreased its portfolio allocation in LDOS by 21.07% over the last quarter.
VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,266K shares representing 3.11% ownership of the company. In its prior filing, the firm reported owning 4,242K shares, representing an increase of 0.57%. The firm decreased its portfolio allocation in LDOS by 10.82% over the last quarter.
Boston Partners holds 3,966K shares representing 2.89% ownership of the company. In its prior filing, the firm reported owning 4,390K shares, representing a decrease of 10.67%. The firm increased its portfolio allocation in LDOS by 119.02% over the last quarter.
VFINX – Vanguard 500 Index Fund Investor Shares holds 3,266K shares representing 2.38% ownership of the company. In its prior filing, the firm reported owning 3,189K shares, representing an increase of 2.35%. The firm decreased its portfolio allocation in LDOS by 10.85% over the last quarter.
Leidos Holdings Background Information(This description is provided by the company.)
Leidos is a Fortune 500® information technology, engineering, and science solutions and services leader working to solve the world’s toughest challenges in the defense, intelligence, homeland security, civil, and health markets. The company’s 38,000 employees support vital missions for government and commercial customers. Headquartered in Reston, Virginia, Leidos reported annual revenues of approximately $11.09 billion for the fiscal year ended January 3, 2020.
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This story originally appeared on Fintel.
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