Bakkavor Group (LON:BAKK) Hits New 12-Month High After Dividend Announcement

Bakkavor Group plc (LON:BAKK) shares reached a new 52-week high during mid-day trading on Thursday following a dividend announcement from the company. The stock traded as high as GBX 161 ($2.12) and last traded at GBX 159.50 ($2.10), with a volume of 484352 shares traded. The stock had previously closed at GBX 154 ($2.02).

The newly announced dividend which will be paid on Friday, October 11th. Shareholders of record on Thursday, September 12th will be paid a GBX 3.20 ($0.04) dividend. This represents a yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 12th. Bakkavor Group’s payout ratio is 7,777.78%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BAKK shares. Deutsche Bank Aktiengesellschaft cut Bakkavor Group to a “hold” rating and set a GBX 140 ($1.84) price target for the company. in a research note on Wednesday, July 17th. Citigroup reaffirmed a “neutral” rating and issued a GBX 155 ($2.04) target price on shares of Bakkavor Group in a research note on Thursday, June 6th.

Bakkavor Group Trading Up 3.6 %

The stock has a market capitalization of £916.90 million, a price-to-earnings ratio of 1,711.11, a PEG ratio of 0.61 and a beta of 0.63. The company has a debt-to-equity ratio of 58.69, a current ratio of 0.56 and a quick ratio of 0.43. The business has a 50 day simple moving average of GBX 151.35 and a 200-day simple moving average of GBX 130.28.

About Bakkavor Group

Bakkavor Group plc, together with its subsidiaries, engages in the preparation and marketing of fresh prepared foods in the United Kingdom, the United States, and China. It offers meals, pizzas and breads, desserts, dips, salads, soups, sauces, fresh cut salads, burritos, food-to-go products, sandwiches, wraps, and bakery products.