Marks and Spencer Group (LON:MKS) Reaches New 12-Month High Following Dividend Announcement

Marks and Spencer Group plc (LON:MKS)’s share price hit a new 52-week high on Wednesday after the company announced a dividend. The company traded as high as GBX 300.02 ($3.81) and last traded at GBX 296.40 ($3.77), with a volume of 312522125 shares trading hands. The stock had previously closed at GBX 273.80 ($3.48).

The newly announced dividend which will be paid on Friday, July 5th. Stockholders of record on Thursday, May 30th will be issued a dividend of GBX 2 ($0.03) per share. The ex-dividend date is Thursday, May 30th. This is an increase from Marks and Spencer Group’s previous dividend of $1.00. This represents a dividend yield of 0.73%. Marks and Spencer Group’s dividend payout ratio is 1,428.57%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on MKS shares. Shore Capital reissued a “house stock” rating on shares of Marks and Spencer Group in a research note on Wednesday. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 360 ($4.58) price objective on shares of Marks and Spencer Group in a research note on Thursday. Jefferies Financial Group raised shares of Marks and Spencer Group to a “buy” rating and set a GBX 310 ($3.94) price objective on the stock in a research note on Monday, April 22nd. Barclays reissued an “overweight” rating and issued a GBX 300 ($3.81) price objective on shares of Marks and Spencer Group in a research note on Tuesday, February 6th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Marks and Spencer Group from GBX 315 ($4.00) to GBX 350 ($4.45) and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 304.29 ($3.87).

Marks and Spencer Group Stock Up 1.6 %

The company has a debt-to-equity ratio of 115.61, a quick ratio of 0.42 and a current ratio of 0.80. The company has a market cap of £6.00 billion, a price-to-earnings ratio of 1,393.33, a price-to-earnings-growth ratio of 0.20 and a beta of 1.58. The stock’s fifty day moving average is GBX 261.14 and its two-hundred day moving average is GBX 255.90.

About Marks and Spencer Group

Marks and Spencer Group plc operates various retail stores. It operates through five segments: UK Clothing & Home, UK Food, International, Ocado, and All Other. The company offers protein deli and dairy; produce; ambient and in-store bakery; meals dessert and frozen; and hospitality and Food on the Move' products.