Bakkavor Group (LON:BAKK) Reaches New 1-Year High Following Dividend Announcement

Bakkavor Group plc (LON:BAKK) shares hit 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 trading hands. The stock had previously closed at GBX 154 ($2.02).

The newly announced dividend which will be paid on Friday, October 11th. Investors 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 is Thursday, September 12th. Bakkavor Group’s dividend payout ratio is currently 7,777.78%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Citigroup reaffirmed a “neutral” rating and set a GBX 155 ($2.04) price objective on shares of Bakkavor Group in a research note on Thursday, June 6th. 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.

Bakkavor Group Trading Down 2.9 %

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 company’s fifty day moving average price is GBX 151.76 and its two-hundred day moving average price is GBX 130.87. The firm has a market cap of £884.88 million, a PE ratio of 1,700.00, a P/E/G ratio of 0.61 and a beta of 0.63.

Bakkavor Group Company Profile

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.