Burberry Group plc (LON:BRBY – Get Free Report) fell 6.4% during trading on Friday . The stock traded as low as GBX 898.20 ($11.39) and last traded at GBX 899.80 ($11.41). 4,739,596 shares changed hands during mid-day trading, an increase of 167% from the average session volume of 1,772,770 shares. The stock had previously closed at GBX 961.80 ($12.20).
Wall Street Analysts Forecast Growth
Several brokerages recently commented on BRBY. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 1,050 ($13.32) price target on shares of Burberry Group in a research note on Tuesday. Royal Bank of Canada reduced their target price on Burberry Group from GBX 1,500 ($19.03) to GBX 1,200 ($15.22) and set a “sector perform” rating for the company in a report on Thursday, April 4th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to MarketBeat.com, Burberry Group presently has an average rating of “Hold” and a consensus target price of GBX 1,540.67 ($19.54).
Get Our Latest Analysis on BRBY
Burberry Group Trading Up 0.2 %
Burberry Group Increases Dividend
The firm also recently declared a dividend, which will be paid on Friday, August 2nd. Stockholders of record on Thursday, June 27th will be issued a dividend of GBX 42.70 ($0.54) per share. The ex-dividend date of this dividend is Thursday, June 27th. This is a positive change from Burberry Group’s previous dividend of $18.30. This represents a dividend yield of 3.59%. Burberry Group’s payout ratio is 8,243.24%.
Insider Transactions at Burberry Group
In other news, insider Jonathan Akeroyd sold 12,911 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of GBX 974 ($12.36), for a total transaction of £125,753.14 ($159,524.47). Corporate insiders own 0.19% of the company’s stock.
About Burberry Group
Burberry Group plc, together with its subsidiaries, manufactures, retails, and wholesales luxury goods under the Burberry brand. The company operates in two segments, Retail/Wholesale and Licensing. It provides womenswear, menswear, childrenswear, beauty, eyewear, shoes, and accessories, as well as leather goods, such as bags.
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