Bakkavor Group (LON:BAKK) Sets New 12-Month High – Here’s Why

Bakkavor Group plc (LON:BAKK)’s share price hit a new 52-week high on Thursday . The company traded as high as GBX 195 ($2.59) and last traded at GBX 195 ($2.59), with a volume of 1468462 shares. The stock had previously closed at GBX 187.40 ($2.49).

Analysts Set New Price Targets

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and set a GBX 170 ($2.26) price target on shares of Bakkavor Group in a research report on Thursday, March 13th.

Bakkavor Group Trading Down 0.1%

The company has a current ratio of 0.62, a quick ratio of 0.43 and a debt-to-equity ratio of 53.92. The business’s 50-day simple moving average is GBX 174.71 and its two-hundred day simple moving average is GBX 153.40. The company has a market capitalization of £1.09 billion, a PE ratio of 17.05, a PEG ratio of 0.61 and a beta of 0.63.

Bakkavor Group (LON:BAKK) last posted its quarterly earnings data on Tuesday, March 4th. The company reported GBX 9.60 ($0.13) earnings per share for the quarter. Bakkavor Group had a net margin of 2.86% and a return on equity of 10.43%. On average, analysts predict that Bakkavor Group plc will post 11.5761689 earnings per share for the current year.

Bakkavor Group Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Thursday, April 24th will be given a dividend of GBX 4.80 ($0.06) per share. This is a boost from Bakkavor Group’s previous dividend of $3.20. The ex-dividend date is Thursday, April 24th. This represents a dividend yield of 3%. Bakkavor Group’s dividend payout ratio (DPR) is presently 72.85%.

About Bakkavor Group

We are the leading provider of fresh prepared food in the UK, and our presence in the US and China positions the Group well in these high-growth markets. We leverage our consumer insight and scale to provide innovative food that offers quality, choice, convenience, and freshness. Around 18,000 colleagues operate from 43 sites across our three markets supplying a portfolio of over 3,000 products across meals, pizza & bread, salads and desserts to leading grocery retailers in the UK and US, and international food brands in China.