Majestic Wine PLC (WINE) Plans Dividend Increase – GBX 3.60 Per Share

Majestic Wine PLC (LON:WINE) announced a dividend on Thursday, June 15th, Upcoming.Co.Uk reports. Shareholders of record on Thursday, June 22nd will be paid a dividend of GBX 3.60 ($0.05) per share on Friday, July 28th. This represents a yield of 1.03%. The ex-dividend date of this dividend is Thursday, June 22nd. This is an increase from Majestic Wine PLC’s previous dividend of $1.50. The official announcement can be viewed at this link.

Shares of Majestic Wine PLC (LON:WINE) traded up 1.53% during mid-day trading on Friday, reaching GBX 314.75. The company’s stock had a trading volume of 85,808 shares. The company’s 50-day moving average price is GBX 356.47 and its 200-day moving average price is GBX 343.84. Majestic Wine PLC has a 12-month low of GBX 273.25 and a 12-month high of GBX 440.25. The stock’s market capitalization is GBX 222.76 million.

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In other news, insider Rowan Gormley sold 50,000 shares of the business’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of GBX 346 ($4.48), for a total transaction of £173,000 ($224,093.26). Also, insider James Crawford sold 25,294 shares of the business’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of GBX 372 ($4.82), for a total value of £94,093.68 ($121,883.01). In the last three months, insiders have sold 175,294 shares of company stock worth $62,409,368.

A number of analysts have issued reports on WINE shares. Peel Hunt downgraded Majestic Wine PLC to a “sell” rating and set a GBX 300 ($3.89) price objective on the stock. in a research note on Thursday, June 15th. Shore Capital reaffirmed a “buy” rating on shares of Majestic Wine PLC in a research note on Tuesday, April 11th. Liberum Capital reaffirmed a “buy” rating and issued a GBX 465 ($6.02) price objective (up previously from GBX 380 ($4.92)) on shares of Majestic Wine PLC in a research note on Wednesday, April 19th. Investec reaffirmed a “buy” rating and issued a GBX 450 ($5.83) price objective on shares of Majestic Wine PLC in a research note on Friday, May 26th. Finally, Canaccord Genuity lifted their price objective on Majestic Wine PLC from GBX 290 ($3.76) to GBX 306 ($3.96) and gave the stock a “sell” rating in a research note on Thursday, May 11th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Majestic Wine PLC presently has a consensus rating of “Hold” and a consensus target price of GBX 375.20 ($4.86).

Majestic Wine PLC Company Profile

Majestic Wine plc is a wine retailer. The Company acts as a holding company for its subsidiaries. The Company is engaged in the retailing of wines, beers and spirits. The Company operates through four segments: Retail, Commercial, Naked Wines and Lay & Wheeler. The Retail segment is a customer based wine retailer, selling wine, beer and spirits from stores across the United Kingdom, and online, and also incorporates the Company’s French business.

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