Kingfisher (LON:KGF) Stock Price Down 13.3% – Here’s Why

Kingfisher plc (LON:KGF)’s stock price dropped 13.3% during trading on Monday . The company traded as low as GBX 252.20 ($3.17) and last traded at GBX 255.59 ($3.21). Approximately 122,939,156 shares changed hands during mid-day trading, an increase of 1,347% from the average daily volume of 8,495,856 shares. The stock had previously closed at GBX 294.66 ($3.70).

Analyst Ratings Changes

Separately, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kingfisher from GBX 310 ($3.90) to GBX 350 ($4.40) and gave the stock a “buy” rating in a research note on Wednesday, September 18th.

Kingfisher Stock Performance

The company has a quick ratio of 0.27, a current ratio of 1.26 and a debt-to-equity ratio of 37.01. The stock has a market capitalization of £4.57 billion, a price-to-earnings ratio of 1,404.44, a price-to-earnings-growth ratio of 2.87 and a beta of 0.96. The company has a 50 day simple moving average of GBX 304.84 and a 200-day simple moving average of GBX 279.07.

Kingfisher Cuts Dividend

The company also recently disclosed a dividend, which was paid on Friday, November 15th. Stockholders of record on Thursday, October 10th were issued a dividend of GBX 3.80 ($0.05) per share. The ex-dividend date was Thursday, October 10th. This represents a dividend yield of 1.31%. Kingfisher’s dividend payout ratio is 6,666.67%.

Insider Buying and Selling

In related news, insider Thierry Garnier sold 382,415 shares of the firm’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of GBX 324 ($4.07), for a total value of £1,239,024.60 ($1,557,541.92). 0.73% of the stock is owned by company insiders.

About Kingfisher

Kingfisher plc, together with its subsidiaries, supplies home improvement products and services primarily in the United Kingdom, Ireland, France, and internationally. It also operates retail stores under the B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint, and Koçtas brands. The company sells its products through stores and e-commerce channels.