Marks and Spencer Group plc (LON:MKS – Get Free Report) passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 266.36 ($3.41) and traded as high as GBX 297.20 ($3.81). Marks and Spencer Group shares last traded at GBX 296.90 ($3.80), with a volume of 4,147,443 shares trading hands.
Analysts Set New Price Targets
Several analysts have recently issued reports on the stock. Royal Bank of Canada reissued an “overweight” rating and issued a GBX 315 ($4.03) price target on shares of Marks and Spencer Group in a research report on Wednesday, May 15th. Jefferies Financial Group raised shares of Marks and Spencer Group to a “buy” rating and set a GBX 310 ($3.97) target price on the stock in a report on Monday, April 22nd. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Marks and Spencer Group in a report on Friday, June 28th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 350 ($4.48) target price on shares of Marks and Spencer Group in a report on Friday, June 28th. Finally, Shore Capital reaffirmed a “house stock” rating on shares of Marks and Spencer Group in a report on Thursday, May 30th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of GBX 322.50 ($4.13).
Check Out Our Latest Stock Report on MKS
Marks and Spencer Group Stock Up 2.0 %
Marks and Spencer Group Increases Dividend
The business also recently declared a dividend, which was paid on Friday, July 5th. Stockholders of record on Thursday, May 30th were issued a GBX 2 ($0.03) dividend. This is a positive change from Marks and Spencer Group’s previous dividend of $1.00. The ex-dividend date of this dividend was Thursday, May 30th. This represents a dividend yield of 0.73%. Marks and Spencer Group’s dividend payout ratio is presently 1,428.57%.
Insider Transactions at Marks and Spencer Group
In other news, insider Stuart Machin sold 619,188 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of GBX 289 ($3.70), for a total value of £1,789,453.32 ($2,292,113.90). Insiders own 0.80% of the company’s stock.
Marks and Spencer Group Company Profile
Marks and Spencer Group plc operates various retail stores. It operates through five segments: UK Clothing & Home, UK Food, International, Ocado, and All Other. The company offers protein deli and dairy; produce; ambient and in-store bakery; meals dessert and frozen; and hospitality and Food on the Move' products.
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