Shares of Marks and Spencer Group plc (LON:MKS – Get Free Report) reached a new 52-week high on Thursday . The stock traded as high as GBX 339.40 ($4.37) and last traded at GBX 331.20 ($4.26), with a volume of 4782055 shares. The stock had previously closed at GBX 328.30 ($4.22).
Analysts Set New Price Targets
Several research firms have weighed in on MKS. Shore Capital reiterated a “house stock” rating on shares of Marks and Spencer Group in a report on Thursday, May 30th. Royal Bank of Canada reissued an “overweight” rating and issued a GBX 315 ($4.05) price target on shares of Marks and Spencer Group in a research note on Wednesday, May 15th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Marks and Spencer Group in a research note on Friday, June 28th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 350 ($4.50) price target on shares of Marks and Spencer Group in a research note on Friday, June 28th. Finally, Jefferies Financial Group raised Marks and Spencer Group to a “buy” rating and set a GBX 310 ($3.99) price target on the stock in a research note on Monday, April 22nd. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of GBX 322.50 ($4.15).
Read Our Latest Research Report on MKS
Marks and Spencer Group Trading Up 0.9 %
Marks and Spencer Group Increases Dividend
The business also recently announced a dividend, which was paid on Friday, July 5th. Investors of record on Thursday, May 30th were given a GBX 2 ($0.03) dividend. The ex-dividend date was Thursday, May 30th. This represents a dividend yield of 0.73%. This is an increase from Marks and Spencer Group’s previous dividend of $1.00. Marks and Spencer Group’s payout ratio is currently 1,428.57%.
Insider Activity at Marks and Spencer Group
In other Marks and Spencer Group news, insider Stuart Machin sold 619,188 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of GBX 289 ($3.72), for a total transaction of £1,789,453.32 ($2,301,843.74). 0.80% of the stock is owned by company insiders.
About Marks and Spencer Group
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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