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

Bakkavor Group plc (LON:BAKK)’s share price hit a new 52-week high during mid-day trading on Thursday after the company announced a dividend. 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. Stockholders of record on Thursday, September 12th will be issued a dividend of GBX 3.20 ($0.04) per share. This represents a dividend yield of 2.08%. The ex-dividend date of this dividend is Thursday, September 12th. Bakkavor Group’s dividend payout ratio (DPR) is 7,777.78%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BAKK. Citigroup reiterated a “neutral” rating and set a GBX 155 ($2.04) price target on shares of Bakkavor Group in a research report on Thursday, June 6th. Deutsche Bank Aktiengesellschaft lowered Bakkavor Group to a “hold” rating and set a GBX 140 ($1.84) price target on the stock. in a research note on Wednesday, July 17th.

Bakkavor Group Stock Performance

The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 58.69. The firm has a 50-day moving average price of GBX 151.76 and a 200 day moving average price of GBX 130.87. The firm has a market capitalization of £884.88 million, a PE ratio of 1,700.00, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63.

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.