WM Morrison Supermarkets PLC (MRW) Price Target Raised to GBX 240
WM Morrison Supermarkets PLC (LON:MRW) had its price target increased by analysts at Credit Suisse Group AG from GBX 230 ($2.99) to GBX 240 ($3.12) in a research note issued to investors on Friday. The brokerage presently has a “neutral” rating on the grocer’s stock. Credit Suisse Group AG’s price target indicates a potential downside of 2.99% from the stock’s previous close.
A number of other research firms have also recently issued reports on MRW. Goldman Sachs Group Inc reiterated a “sell” rating and issued a GBX 190 ($2.47) price objective on shares of WM Morrison Supermarkets PLC in a report on Wednesday, April 12th. Beaufort Securities reaffirmed a “buy” rating and set a GBX 260 ($3.38) price target on shares of WM Morrison Supermarkets PLC in a research report on Friday, May 5th. Shore Capital reaffirmed a “house stock” rating on shares of WM Morrison Supermarkets PLC in a research report on Thursday, May 4th. HSBC Holdings plc reaffirmed a “reduce” rating and set a GBX 200 ($2.60) price target on shares of WM Morrison Supermarkets PLC in a research report on Friday, January 27th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a GBX 260 ($3.38) price target on shares of WM Morrison Supermarkets PLC in a research report on Wednesday, March 8th. Eight analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of GBX 212.60 ($2.77).
WM Morrison Supermarkets PLC (LON:MRW) traded up 0.81% during mid-day trading on Friday, hitting GBX 247.40. The stock had a trading volume of 8,671,167 shares. WM Morrison Supermarkets PLC has a 52 week low of GBX 168.50 and a 52 week high of GBX 250.00. The stock’s market capitalization is GBX 5.76 billion. The company’s 50 day moving average is GBX 238.23 and its 200-day moving average is GBX 234.63.
The business also recently announced a dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, May 25th will be issued a GBX 3.85 ($0.05) dividend. This is a boost from WM Morrison Supermarkets PLC’s previous dividend of $1.58. This represents a yield of 1.67%. The ex-dividend date of this dividend is Thursday, May 25th.
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In other WM Morrison Supermarkets PLC news, insider Paula Vennells purchased 12,745 shares of the firm’s stock in a transaction on Friday, March 10th. The shares were acquired at an average cost of GBX 234 ($3.04) per share, with a total value of £29,823.30 ($38,797.06). Also, insider Neil Davidson purchased 12,800 shares of the firm’s stock in a transaction on Monday, March 13th. The shares were acquired at an average cost of GBX 235 ($3.06) per share, for a total transaction of £30,080 ($39,131.00).
About WM Morrison Supermarkets PLC
Wm Morrison Supermarkets PLC is engaged in the operation of retail supermarket stores under the Morrisons brand and associated activities. The Company offers products, such as Free From, World Foods, Food To Go and Nutmeg clothing. It has food manufacturing capabilities in meat, fish, bakery, fruit and veg, deli and flowers.
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