J Sainsbury (LON:SBRY – Get Free Report) declared that its Board of Directors has initiated a share repurchase program on Friday, October 23rd, RTT News reports. The company plans to repurchase £100 million in outstanding shares. This repurchase authorization permits the grocer to purchase up to 1.3% of its shares through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.
J Sainsbury Price Performance
LON SBRY traded up GBX 3.90 during mid-day trading on Monday, hitting GBX 353.10. The stock had a trading volume of 1,384,014,375 shares, compared to its average volume of 31,096,709. J Sainsbury has a 52-week low of GBX 293.70 and a 52-week high of GBX 380.30. The company has a market cap of £7.69 billion, a price-to-earnings ratio of 20.89, a P/E/G ratio of 0.42 and a beta of 1.00. The company has a 50 day simple moving average of GBX 337.52 and a 200 day simple moving average of GBX 333.35. The company has a quick ratio of 0.53, a current ratio of 0.59 and a debt-to-equity ratio of 115.36.
J Sainsbury (LON:SBRY – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The grocer reported GBX 9.50 earnings per share (EPS) for the quarter. J Sainsbury had a return on equity of 6.39% and a net margin of 1.15%. Equities analysts forecast that J Sainsbury will post 25.72 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms have recently issued reports on SBRY. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 390 price objective on shares of J Sainsbury in a research report on Friday. Shore Capital Group reissued a “house stock” rating on shares of J Sainsbury in a report on Friday, July 31st. Citigroup lifted their target price on shares of J Sainsbury from GBX 330 to GBX 346 and gave the company a “neutral” rating in a report on Friday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 375 target price on shares of J Sainsbury in a report on Thursday, July 2nd. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 310 price objective on shares of J Sainsbury in a research note on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 360.17.
Check Out Our Latest Stock Analysis on J Sainsbury
Insiders Place Their Bets
In other J Sainsbury news, insider Simon Roberts sold 346,154 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of GBX 333, for a total transaction of £1,152,692.82. Also, insider Katie Bickerstaffe bought 5,732 shares of the business’s stock in a transaction that occurred on Thursday, October 22nd. The stock was purchased at an average cost of GBX 347 per share, with a total value of £19,890.04. 0.47% of the stock is currently owned by corporate insiders.
About J Sainsbury
J Sainsbury plc is one of the UK’s leading food, general merchandise and clothing retailers.
Offering delicious, great quality food at competitive prices has been at the heart of what we do since we opened our first store in 1869. Today, inspiring and delighting our customers with tasty food remains our priority. Our purpose is that driven by our passion for food, together we serve and help every customer.
Our focus on great value food and convenient shopping, whether in-store or online is supported by our brands – Argos, Habitat, Tu, Nectar and Sainsbury’s Bank.
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