Bakkavor Group (LON:BAKK) Sets New 52-Week High – Time to Buy?

Bakkavor Group plc (LON:BAKK) shares hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as GBX 188 ($2.43) and last traded at GBX 171 ($2.21), with a volume of 22150516 shares changing hands. The stock had previously closed at GBX 168.50 ($2.18).

Analyst Ratings Changes

Separately, Royal Bank of Canada reaffirmed an “outperform” rating and issued a GBX 170 ($2.20) target price on shares of Bakkavor Group in a research note on Thursday, March 13th.

Bakkavor Group Stock Performance

The company’s fifty day moving average price is GBX 149.69 and its two-hundred day moving average price is GBX 147.94. The company has a debt-to-equity ratio of 53.92, a quick ratio of 0.43 and a current ratio of 0.62. The firm has a market capitalization of £1.09 billion, a PE ratio of 16.94, a price-to-earnings-growth ratio of 0.61 and a beta of 0.63.

Bakkavor Group (LON:BAKK) last announced its quarterly earnings results on Tuesday, March 4th. The company reported GBX 9.60 ($0.12) earnings per share for the quarter. Bakkavor Group had a net margin of 2.86% and a return on equity of 10.43%. As a group, equities analysts expect that Bakkavor Group plc will post 11.5761689 earnings per share for the current year.

Bakkavor Group Increases Dividend

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

Bakkavor Group Company Profile

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.