Burberry Group plc (BRBY) Earns Reduce Rating from HSBC Holdings plc
Burberry Group plc (LON:BRBY)‘s stock had its “reduce” rating reissued by analysts at HSBC Holdings plc in a research report issued on Thursday. They presently have a GBX 1,580 ($20.13) price target on the stock. HSBC Holdings plc’s target price would suggest a potential downside of 9.97% from the stock’s current price.
Other research analysts have also recently issued reports about the stock. Beaufort Securities reiterated a “buy” rating and set a GBX 1,920 ($24.46) target price on shares of Burberry Group plc in a report on Thursday, April 20th. Berenberg Bank reiterated a “buy” rating and set a GBX 1,840 ($23.44) target price on shares of Burberry Group plc in a report on Monday, May 15th. Deutsche Bank AG increased their target price on shares of Burberry Group plc from GBX 1,525 ($19.43) to GBX 1,650 ($21.02) and gave the stock a “hold” rating in a report on Wednesday, April 12th. Societe Generale increased their target price on shares of Burberry Group plc from GBX 1,615 ($20.58) to GBX 1,760 ($22.42) and gave the stock a “hold” rating in a report on Tuesday, April 18th. Finally, Macquarie reiterated a “neutral” rating and set a GBX 1,400 ($17.84) target price on shares of Burberry Group plc in a report on Wednesday, March 1st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 1,611.22 ($20.53).
Shares of Burberry Group plc (LON:BRBY) traded down 0.51% on Thursday, reaching GBX 1755.00. 706,652 shares of the company were exchanged. The company’s 50-day moving average is GBX 1,711.92 and its 200-day moving average is GBX 1,654.01. Burberry Group plc has a 52 week low of GBX 1,053.00 and a 52 week high of GBX 1,879.00. The company’s market capitalization is GBX 7.63 billion.
The business also recently disclosed a dividend, which will be paid on Friday, August 4th. Investors of record on Thursday, July 6th will be given a GBX 28.40 ($0.36) dividend. This is a positive change from Burberry Group plc’s previous dividend of $10.50. This represents a dividend yield of 1.65%. The ex-dividend date of this dividend is Thursday, July 6th.
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In related news, insider Julie Brown acquired 9,621 shares of the firm’s stock in a transaction that occurred on Friday, May 19th. The stock was purchased at an average cost of GBX 1,725 ($21.98) per share, with a total value of £165,962.25 ($211,443.81).
Burberry Group plc Company Profile
Burberry Group plc is a manufacturer, wholesaler and retailer of luxury goods. The Company also licenses third parties to manufacture and distribute products using the Burberry trademarks. The Company’s segments include retail/wholesale and licensing. The Retail/wholesale segment is engaged in the sale of luxury goods through Burberry mainline stores, concessions, outlets and digital commerce, as well as Burberry franchisees, prestige department stores globally and multi-brand specialty accounts.
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