Burberry Group (LON:BRBY) Sets New 52-Week High on Analyst Upgrade
Burberry Group plc (LON:BRBY)’s stock price reached a new 52-week high on Wednesday after Royal Bank of Canada raised their price target on the stock from GBX 1,800 to GBX 1,975. Royal Bank of Canada currently has an underperform rating on the stock. Burberry Group traded as high as GBX 2,355 ($30.77) and last traded at GBX 2,353 ($30.75), with a volume of 575767 shares trading hands. The stock had previously closed at GBX 2,277 ($29.75).
BRBY has been the topic of a number of other reports. Bryan, Garnier & Co raised Burberry Group from a “sell” rating to a “neutral” rating in a research note on Monday, May 20th. Deutsche Bank lifted their price target on Spirit Airlines from $75.00 to $79.00 and gave the company a “buy” rating in a research note on Friday, July 12th. Morgan Stanley set a $70.00 price objective on Edison International and gave the stock a “hold” rating in a research report on Monday. Jefferies Financial Group downgraded Keppel REIT from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Sanford C. Bernstein upgraded Burberry Group from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 21st. Three investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of GBX 1,955 ($25.55).
In other Burberry Group news, insider Julie Brown bought 24,051 shares of the stock in a transaction on Friday, June 21st. The stock was acquired at an average cost of GBX 1,775 ($23.19) per share, for a total transaction of £426,905.25 ($557,827.32).
The company also recently disclosed a dividend, which will be paid on Friday, August 2nd. Shareholders of record on Thursday, June 27th will be paid a GBX 31.50 ($0.41) dividend. This represents a yield of 1.69%. The ex-dividend date of this dividend is Thursday, June 27th. This is a boost from Burberry Group’s previous dividend of $11.00. Burberry Group’s dividend payout ratio (DPR) is 0.51%.
Burberry Group Company Profile (LON:BRBY)
Burberry Group plc, together with its subsidiaries, manufactures, retails, and wholesales luxury goods for men, women, and children under the Burberry brand name. The company operates in two segments, Retail/Wholesale and Licensing. It offers apparel; accessories, such as women's handbags and small leather goods; and beauty, eyewear and timepieces.
Receive News & Ratings for Burberry Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Burberry Group and related companies with MarketBeat.com's FREE daily email newsletter.