Kitwave Group (LON:KITW) Stock Price Up 8.4%

Shares of Kitwave Group plc (LON:KITW) rose 8.4% during trading on Wednesday . The company traded as high as GBX 339 ($4.54) and last traded at GBX 335 ($4.49). Approximately 1,499,148 shares changed hands during mid-day trading, an increase of 661% from the average daily volume of 196,889 shares. The stock had previously closed at GBX 309 ($4.14).

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 455 ($6.09) price objective on shares of Kitwave Group in a research report on Tuesday, September 3rd.

Kitwave Group Stock Up 4.7 %

The company’s 50-day simple moving average is GBX 321.86 and its two-hundred day simple moving average is GBX 344.66. The firm has a market cap of £243.98 million, a PE ratio of 1,450.00 and a beta of 0.78. The company has a debt-to-equity ratio of 103.83, a quick ratio of 0.65 and a current ratio of 1.02.

Kitwave Group Cuts Dividend

The firm also recently announced a dividend, which was paid on Friday, August 2nd. Investors of record on Thursday, July 11th were paid a GBX 3.85 ($0.05) dividend. The ex-dividend date was Thursday, July 11th. This represents a dividend yield of 1.15%. Kitwave Group’s payout ratio is presently 4,583.33%.

Kitwave Group Company Profile

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.