Kitwave Group (LON:KITW) Given “Buy” Rating at Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Kitwave Group (LON:KITW) in a research note published on Tuesday, Marketbeat.com reports. Canaccord Genuity Group currently has a GBX 455 ($5.76) price target on the stock.

Kitwave Group Stock Up 3.6 %

Shares of LON KITW opened at GBX 306 ($3.87) on Tuesday. Kitwave Group has a 12-month low of GBX 236.40 ($2.99) and a 12-month high of GBX 409.50 ($5.18). The stock’s fifty day simple moving average is GBX 363.84 and its two-hundred day simple moving average is GBX 326.13. The stock has a market capitalization of £214.54 million, a PE ratio of 1,136.54 and a beta of 0.85. The company has a current ratio of 1.29, a quick ratio of 0.65 and a debt-to-equity ratio of 69.96.

Kitwave Group Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, August 2nd. Stockholders of record on Thursday, July 11th will be issued a GBX 3.85 ($0.05) dividend. This represents a dividend yield of 1.15%. The ex-dividend date of this dividend is Thursday, July 11th. Kitwave Group’s dividend payout ratio is currently 4,230.77%.

About Kitwave Group

Kitwave Group plc engages in the wholesale business in the United Kingdom. It operates in three divisions: Ambient, Frozen & Chilled, and Foodservice. The Ambient division supplies confectionery, soft drinks, crisps and snacks, and tobacco. This division serves independent convenience stores, vending operators, national retailers, and other UK wholesalers.