Kitwave Group (LON:KITW) Earns “Buy” Rating from Canaccord Genuity Group

Canaccord Genuity Group reiterated their buy rating on shares of Kitwave Group (LON:KITW) in a report released on Tuesday, Marketbeat Ratings reports. They currently have a GBX 455 ($5.76) price target on the stock.

Kitwave Group Price Performance

Shares of LON:KITW opened at GBX 313.50 ($3.97) on Tuesday. The company has a 50 day moving average of GBX 361.44 and a 200 day moving average of GBX 325.92. The stock has a market cap of £219.79 million, a P/E ratio of 1,205.77 and a beta of 0.85. Kitwave Group has a 12 month low of GBX 236.40 ($2.99) and a 12 month high of GBX 409.50 ($5.18). The company has a current ratio of 1.29, a quick ratio of 0.65 and a debt-to-equity ratio of 69.96.

Kitwave Group Cuts Dividend

The business also recently announced a dividend, which will be paid on Friday, August 2nd. Shareholders of record on Thursday, July 11th will be given a dividend of GBX 3.85 ($0.05) per share. The ex-dividend date of this dividend is Thursday, July 11th. This represents a yield of 1.15%. Kitwave Group’s payout ratio is presently 4,230.77%.

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.