Bakkavor Group (LON:BAKK) Reaches New 52-Week High – What’s Next?

Bakkavor Group plc (LON:BAKK)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as GBX 193.40 ($2.50) and last traded at GBX 190.35 ($2.46), with a volume of 2267557 shares. The stock had previously closed at GBX 177.80 ($2.30).

Wall Street Analysts Forecast Growth

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

Bakkavor Group Stock Performance

The stock has a 50 day simple moving average of GBX 150.49 and a 200 day simple moving average of GBX 147.97. The company has a quick ratio of 0.43, a current ratio of 0.62 and a debt-to-equity ratio of 53.92. The company has a market cap of £1.12 billion, a price-to-earnings ratio of 17.37, a PEG ratio of 0.61 and a beta of 0.63.

Bakkavor Group (LON:BAKK) last released 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 return on equity of 10.43% and a net margin of 2.86%. As a group, analysts predict that Bakkavor Group plc will post 11.5761689 EPS for the current year.

Bakkavor Group Increases Dividend

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