J P Morgan Chase & Co Boosts Burberry Group plc (LON:BRBY) Price Target to GBX 1,620
Burberry Group plc (LON:BRBY) had its price objective hoisted by investment analysts at J P Morgan Chase & Co from GBX 1,600 ($20.73) to GBX 1,620 ($20.98) in a note issued to investors on Thursday. The brokerage currently has a “neutral” rating on the stock. J P Morgan Chase & Co’s target price suggests a potential downside of 0.61% from the stock’s previous close.
Several other equities analysts have also issued reports on BRBY. Liberum Capital raised their price objective on Burberry Group plc from GBX 1,200 ($15.54) to GBX 1,350 ($17.49) and gave the stock a “sell” rating in a report on Thursday, March 16th. BNP Paribas reaffirmed a “neutral” rating and set a GBX 1,590 ($20.60) price objective on shares of Burberry Group plc in a report on Friday, March 17th. Barclays PLC reissued an “overweight” rating and set a GBX 1,900 ($24.61) price target on shares of Burberry Group plc in a report on Monday, March 20th. HSBC Holdings plc reissued a “hold” rating and set a GBX 1,630 ($21.11) price target on shares of Burberry Group plc in a report on Tuesday, March 28th. Finally, Macquarie raised their price target on Burberry Group plc from GBX 1,400 ($18.13) to GBX 1,750 ($22.67) and gave the stock a “neutral” rating in a report on Thursday, April 6th. Five equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of GBX 1,626.16 ($21.06).
Burberry Group plc (BRBY) opened at 1639.00 on Thursday. The stock’s market capitalization is GBX 7.13 billion. The stock has a 50 day moving average price of GBX 1,734.41 and a 200-day moving average price of GBX 1,664.21. Burberry Group plc has a one year low of GBX 1,079.01 and a one year high of GBX 1,879.00.
The firm also recently announced a dividend, which will be paid on Friday, August 4th. Investors of record on Thursday, July 6th will be paid a dividend of GBX 28.40 ($0.37) per share. The ex-dividend date of this dividend is Thursday, July 6th. This is a positive change from Burberry Group plc’s previous dividend of $10.50. This represents a yield of 1.65%.
In other news, insider Julie Brown purchased 9,621 shares of Burberry Group plc stock in a transaction that occurred on Friday, May 19th. The stock was acquired at an average price of GBX 1,725 ($22.34) per share, for a total transaction of £165,962.25 ($214,977.01).
About Burberry Group plc
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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