J Sainsbury plc (SBRY) Price Target Raised to GBX 320 at Credit Suisse Group AG
J Sainsbury plc (LON:SBRY) had its target price upped by stock analysts at Credit Suisse Group AG from GBX 300 ($3.90) to GBX 320 ($4.16) in a report released on Friday. The firm presently has an “outperform” rating on the grocer’s stock. Credit Suisse Group AG’s price target suggests a potential upside of 13.60% from the company’s current price.
Several other analysts also recently weighed in on the stock. Shore Capital reaffirmed a “buy” rating on shares of J Sainsbury plc in a report on Wednesday, May 17th. Deutsche Bank AG reissued a “hold” rating and set a GBX 300 ($3.90) price objective on shares of J Sainsbury plc in a report on Wednesday, May 10th. Barclays PLC reissued an “equal weight” rating and set a GBX 260 ($3.38) price objective on shares of J Sainsbury plc in a report on Thursday, May 4th. HSBC Holdings plc reissued a “reduce” rating and set a GBX 205 ($2.67) price objective on shares of J Sainsbury plc in a report on Sunday, April 30th. Finally, Jefferies Group LLC reissued a “hold” rating and set a GBX 260 ($3.38) price objective on shares of J Sainsbury plc in a report on Tuesday, April 25th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of GBX 257.07 ($3.34).
J Sainsbury plc (LON:SBRY) traded up 1.11% during midday trading on Friday, hitting GBX 281.70. 8,541,140 shares of the stock traded hands. The company’s 50 day moving average is GBX 268.36 and its 200-day moving average is GBX 258.48. The company’s market cap is GBX 6.04 billion. J Sainsbury plc has a one year low of GBX 211.50 and a one year high of GBX 283.60.
The business also recently declared a dividend, which will be paid on Friday, July 7th. Stockholders of record on Thursday, May 11th will be given a GBX 6.60 ($0.09) dividend. This represents a dividend yield of 2.36%. This is a positive change from J Sainsbury plc’s previous dividend of $3.60. The ex-dividend date is Thursday, May 11th.
In other news, insider John Rogers purchased 21,839 shares of the company’s stock in a transaction dated Tuesday, May 16th. The shares were bought at an average price of GBX 266 ($3.46) per share, with a total value of £58,091.74 ($75,571.41). Also, insider Michael Andrew Coupe sold 86,095 shares of J Sainsbury plc stock in a transaction that occurred on Thursday, May 4th. The shares were sold at an average price of GBX 259 ($3.37), for a total transaction of £222,986.05 ($290,082.02). Insiders bought 25,069 shares of company stock valued at $6,665,295 over the last three months.
About J Sainsbury plc
J Sainsbury plc is engaged in grocery-related retailing and retail banking. The Company’s segments include Retailing; Financial services, and Property investments. The Retailing segment is engaged in the operation of supermarkets and convenience. The Financial services segment includes the operations of Sainsbury’s Bank plc (Sainsbury’s Bank).
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