CyberAgent price target (TYO:4751) reduced by 5.21% to 1,167.63

The average price target for CyberAgent has been revised to 1,167.63 per share, representing a decrease of 5.21% from the previous estimate of 1,231.80 on August 1, 2023.

This target is an average of multiple forecasts provided by analysts. The most recent targets range from a minimum of 676.70 to a maximum of 1,890.00 per share. The average target price represents a 23.17% increase from the last reported closing price of 948.00 per share.

Personally, I am concerned about this bearish trend in the estimates. Are we facing the beginning of a deeper correction?

CyberAgent maintains a dividend yield of 1.58%

At the most recent price, the company's dividend yield is 1.58%. Additionally, its dividend payout ratio is 1.07, which means it is paying out more than it earns. This does not seem sustainable in the long term - they are using their reserves to maintain those dividends, a concerning sign.

The 3-year dividend growth rate is 0.82%, demonstrating that it has increased its dividend over time, although at a rather modest pace.

Fund Sentiment

There has been a decrease of 13 institutional owners (, 16.19%) in the last quarter. The average portfolio weight dedicated to CyberAgent is 0.10%, with a decrease of 11.65%. Total shares held by institutions decreased by 1.97% to 54,802,000 shares.

This outflow of institutional capital makes me suspicious. When big players start to reduce positions, it is usually a warning sign that we should not ignore.

Movements of other shareholders

Several major funds have reduced their positions:

• An important fund holds 8,998,000 shares (1, 78% ownership ), after a decrease of 0.15%. They reduced their allocation by 7.42%.
• Another fund holds 5,520,000 shares (1.09%), with an increase of 0.23%, but decreased its allocation by 6.35%.
• A third fund holds 5,200,000 shares (1.03%) unchanged.
• A fourth fund holds 3,960,000 shares (0.78%) unchanged.
• A fifth fund has 3,311,000 shares (0.65%), increasing by 3.55%, but reduced its allocation by 14.33%.

In my opinion, this data reflects a growing caution among institutional investors. Although some are slightly increasing their positions, the overall trend of reducing portfolio allocation suggests little confidence in the future performance of CyberAgent.