Vanguard Group Inc. Raises Position in Smith & Wesson Brands, Inc. $SWBI

Key Points

• Vanguard Group Inc. increased its stake in Smith & Wesson Brands, acquiring an additional 62,173 shares to a total of 2,608,677 shares, representing a 5.93% ownership valued at approximately $24.3 million.
• Smith & Wesson reported quarterly earnings of $0.20 per share, missing expectations, with revenues falling 11.6% year-over-year to $140.76 million.
• The company declared a quarterly dividend of $0.13 per share, resulting in an annualized yield of 6.4%, despite a high dividend payout ratio of 192.59%.

Vanguard Group Inc. boosted its stake in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Free Report) by 2.4% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,608,677 shares of the company's stock after purchasing an additional 62,173 shares during the period. Vanguard Group Inc. owned approximately 5.93% of Smith & Wesson Brands worth $24,313,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Financial Harvest LLC acquired a new stake in Smith & Wesson Brands during the 1st quarter worth about $31,000. PNC Financial Services Group Inc. grew its position in Smith & Wesson Brands by 162.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,320 shares of the company's stock worth $40,000 after purchasing an additional 2,672 shares during the period. Spurstone Advisory Services LLC acquired a new stake in Smith & Wesson Brands during the 4th quarter worth about $47,000. Byrne Asset Management LLC grew its position in Smith & Wesson Brands by 145.0% during the 1st quarter. Byrne Asset Management LLC now owns 5,391 shares of the company's stock worth $50,000 after purchasing an additional 3,191 shares during the period. Finally, Caption Management LLC acquired a new stake in Smith & Wesson Brands during the 4th quarter worth about $51,000. 59.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SWBI. Zacks Research raised shares of Smith & Wesson Brands from a "strong sell" rating to a "hold" rating in a research note on Tuesday, August 26th. Lake Street Capital lowered their target price on shares of Smith & Wesson Brands from $12.50 to $11.00 and set a "buy" rating on the stock in a research note on Monday, June 23rd. Finally, Wall Street Zen lowered shares of Smith & Wesson Brands from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $12.00.

Smith & Wesson Brands Price Performance

Shares of SWBI stock traded down $0.11 during mid-day trading on Wednesday, hitting $8.02. 606,629 shares of the stock were exchanged, compared to its average volume of 645,143. The firm has a fifty day moving average of $8.25 and a 200 day moving average of $9.22. The company has a quick ratio of 1.31, a current ratio of 4.16 and a debt-to-equity ratio of 0.30. Smith & Wesson Brands, Inc. has a 52-week low of $7.73 and a 52-week high of $14.45. The company has a market cap of $352.90 million, a PE ratio of 29.70 and a beta of 0.95.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last issued its quarterly earnings results on Wednesday, June 18th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). The company had revenue of $140.76 million during the quarter, compared to analysts' expectations of $152.41 million. Smith & Wesson Brands had a net margin of 2.60% and a return on equity of 3.71%. The company's quarterly revenue was down 11.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.45 earnings per share. Research analysts anticipate that Smith & Wesson Brands, Inc. will post 0.47 earnings per share for the current year.

Smith & Wesson Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 21st. Investors of record on Monday, July 7th were paid a $0.13 dividend. The ex-dividend date of this dividend was Monday, July 7th. This represents a $0.52 dividend on an annualized basis and a yield of 6.5%. Smith & Wesson Brands's dividend payout ratio (DPR) is currently 192.59%.

Smith & Wesson Brands Profile

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm's brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech.