Canaccord Genuity Group Reaffirms Buy Rating for Kitwave Group (LON:KITW)

Canaccord Genuity Group reiterated their buy rating on shares of Kitwave Group (LON:KITW) in a report published on Thursday morning, MarketBeat.com reports. The brokerage currently has a GBX 455 ($5.72) target price on the stock.

Kitwave Group Stock Performance

Shares of KITW opened at GBX 388.50 ($4.88) on Thursday. The firm has a market capitalization of £272.38 million, a P/E ratio of 1,494.23 and a beta of 0.86. The company has a debt-to-equity ratio of 69.96, a current ratio of 1.29 and a quick ratio of 0.65. Kitwave Group has a one year low of GBX 236.40 ($2.97) and a one year high of GBX 409.50 ($5.14). The business has a fifty day moving average of GBX 350.95 and a 200 day moving average of GBX 295.28.

Kitwave Group Increases Dividend

The firm also recently declared a dividend, which was paid on Friday, April 26th. Stockholders of record on Thursday, April 4th were given a dividend of GBX 7.45 ($0.09) per share. The ex-dividend date of this dividend was Thursday, April 4th. This represents a dividend yield of 2.51%. This is a positive change from Kitwave Group’s previous dividend of $3.75. Kitwave Group’s dividend payout ratio is presently 4,230.77%.

About Kitwave Group

Kitwave Group plc engages in the wholesale business in the United Kingdom. It operates in three divisions: Ambient, Frozen & Chilled, and Foodservice. The Ambient division supplies confectionery, soft drinks, crisps and snacks, and tobacco. This division serves independent convenience stores, vending operators, national retailers, and other UK wholesalers.