Fortune Brands Innovations, Inc. (NYSE:FBIN) Receives $77.17 Consensus Price Target from Analysts

Shares of Fortune Brands Innovations, Inc. (NYSE:FBIN - Get Free Report) have received a consensus rating of "Hold" from the twelve brokerages that are currently covering the stock, Marketbeat.com reports. Seven research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $77.17.

Several equities research analysts have weighed in on FBIN shares. Truist Financial set a $65.00 target price on Fortune Brands Innovations in a research report on Wednesday, May 7th. Barclays dropped their target price on Fortune Brands Innovations from $68.00 to $64.00 and set an "overweight" rating on the stock in a research report on Thursday, May 8th. Royal Bank Of Canada dropped their target price on Fortune Brands Innovations from $70.00 to $59.00 and set a "sector perform" rating on the stock in a research report on Wednesday, May 7th. UBS Group dropped their target price on Fortune Brands Innovations from $90.00 to $82.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Robert W. Baird dropped their target price on Fortune Brands Innovations from $56.00 to $54.00 and set a "neutral" rating on the stock in a research report on Wednesday, May 7th.

Fortune Brands Innovations Stock Performance

FBIN traded up $0.97 during trading hours on Friday, hitting $54.07. 1,503,282 shares of the stock were exchanged, compared to its average volume of 1,636,599. The stock has a 50-day simple moving average of $52.07 and a 200-day simple moving average of $59.78. Fortune Brands Innovations has a 12 month low of $47.21 and a 12 month high of $90.54. The stock has a market cap of $6.50 billion, a price-to-earnings ratio of 15.86, a price-to-earnings-growth ratio of 2.93 and a beta of 1.36. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.41 and a quick ratio of 0.72.

Fortune Brands Innovations (NYSE:FBIN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.66 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.66. Fortune Brands Innovations had a return on equity of 20.96% and a net margin of 9.42%. The firm had revenue of $1.03 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period last year, the business posted $0.83 earnings per share. The firm's revenue for the quarter was down 6.9% on a year-over-year basis. Analysts anticipate that Fortune Brands Innovations will post 4.24 earnings per share for the current year.

Fortune Brands Innovations Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, June 11th. Investors of record on Tuesday, May 27th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, May 27th. Fortune Brands Innovations's payout ratio is currently 29.33%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Fortune Brands Innovations by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 12,027,516 shares of the company's stock worth $821,840,000 after acquiring an additional 68,404 shares during the period. Wellington Management Group LLP grew its holdings in Fortune Brands Innovations by 113.5% during the first quarter. Wellington Management Group LLP now owns 6,128,101 shares of the company's stock worth $373,079,000 after acquiring an additional 3,257,428 shares during the period. JPMorgan Chase & Co. grew its holdings in Fortune Brands Innovations by 9.2% during the first quarter. JPMorgan Chase & Co. now owns 4,855,425 shares of the company's stock worth $295,598,000 after acquiring an additional 409,466 shares during the period. Amundi grew its holdings in Fortune Brands Innovations by 24.1% during the first quarter. Amundi now owns 2,861,900 shares of the company's stock worth $169,975,000 after acquiring an additional 555,036 shares during the period. Finally, Dimensional Fund Advisors LP grew its holdings in Fortune Brands Innovations by 22.2% during the first quarter. Dimensional Fund Advisors LP now owns 2,351,110 shares of the company's stock worth $143,130,000 after acquiring an additional 426,929 shares during the period. 87.60% of the stock is owned by institutional investors and hedge funds.

Fortune Brands Innovations Company Profile

Fortune Brands Innovations, Inc provides home and security products for residential home repair, remodeling, new construction, and security applications in the United States and internationally. The company operates through three segments: Water, Outdoors, and Security. The Water segment manufactures or assembles, and sells faucets, accessories, kitchen sinks, and waste disposals under the Moen, ROHL, Riobel, Victoria+Albert, Perrin & Rowe, Aqualisa, Shaws, Emtek, and Schaub brands.