Burberry Group plc (LON:BRBY – Get Free Report)’s share price traded down 11.3% on Monday . The stock traded as low as GBX 780 ($9.99) and last traded at GBX 786.20 ($10.07). 195,518,219 shares traded hands during mid-day trading, an increase of 5,976% from the average session volume of 3,217,929 shares. The stock had previously closed at GBX 886.60 ($11.36).
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a GBX 1,050 ($13.45) target price on shares of Burberry Group in a report on Tuesday, June 25th. Royal Bank of Canada decreased their price target on shares of Burberry Group from GBX 1,500 ($19.21) to GBX 1,200 ($15.37) and set a “sector perform” rating for the company in a research report on Thursday, April 4th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Based on data from MarketBeat, Burberry Group has a consensus rating of “Hold” and an average price target of GBX 1,540.67 ($19.73).
View Our Latest Stock Report on BRBY
Burberry Group Trading Down 15.6 %
Burberry Group Increases Dividend
The company also recently disclosed a dividend, which will be paid on Friday, August 2nd. Stockholders of record on Thursday, June 27th will be given a dividend of GBX 42.70 ($0.55) per share. This is a boost from Burberry Group’s previous dividend of $18.30. This represents a dividend yield of 3.59%. The ex-dividend date of this dividend is Thursday, June 27th. Burberry Group’s payout ratio is 8,243.24%.
Insider Transactions at Burberry Group
In other news, insider Jonathan Akeroyd sold 12,911 shares of Burberry Group stock in a transaction on Monday, June 17th. The shares were sold at an average price of GBX 974 ($12.48), for a total transaction of £125,753.14 ($161,077.42). Corporate insiders own 0.19% of the company’s stock.
About Burberry Group
Burberry Group plc, together with its subsidiaries, manufactures, retails, and wholesales luxury goods under the Burberry brand. The company operates in two segments, Retail/Wholesale and Licensing. It provides womenswear, menswear, childrenswear, beauty, eyewear, shoes, and accessories, as well as leather goods, such as bags.
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