C&C Group (LON:CCR) Stock Crosses Below 200-Day Moving Average – Here’s Why

Shares of C&C Group plc (LON:CCR) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 154.22 ($1.92) and traded as low as GBX 146 ($1.81). C&C Group shares last traded at GBX 148.20 ($1.84), with a volume of 197,751 shares trading hands.

Analysts Set New Price Targets

Separately, Shore Capital reissued a “buy” rating on shares of C&C Group in a report on Thursday, December 12th.

C&C Group Stock Up 1.2 %

The firm’s 50-day simple moving average is GBX 148.13 and its 200 day simple moving average is GBX 154.22. The company has a debt-to-equity ratio of 56.01, a quick ratio of 0.80 and a current ratio of 1.16. The company has a market capitalization of £567.12 million, a PE ratio of -617.50, a price-to-earnings-growth ratio of 5.61 and a beta of 1.26.

C&C Group Cuts Dividend

The business also recently announced a dividend, which was paid on Friday, December 13th. Shareholders of record on Thursday, November 14th were given a dividend of €0.02 ($0.02) per share. The ex-dividend date was Thursday, November 14th. This represents a yield of 1.03%. C&C Group’s payout ratio is currently -2,083.33%.

Insider Activity

In other C&C Group news, insider Angela Bromfield bought 13,439 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was bought at an average price of GBX 147 ($1.83) per share, for a total transaction of £19,755.33 ($24,540.78). Also, insider Ralph Findlay purchased 66,183 shares of the stock in a transaction dated Monday, December 16th. The stock was acquired at an average price of GBX 150 ($1.86) per share, for a total transaction of £99,274.50 ($123,322.36). Insiders own 3.38% of the company’s stock.

About C&C Group

C&C Group plc manufactures, markets, and distributes beer, cider, wine, spirits, and soft drinks in the Republic of Ireland, Great Britain, and internationally. The company offers its products primarily under the Tennent's, Bulmers, Magners, Orchard Pig, Heverlee, 5 Lamps, Fête, Blackthorn, Seven Summits, Dowd's Lane, Chaplin & Cork's, Celedonia Best, and Addlestones brand name.