Berenberg Bank reiterated their buy rating on shares of Inchcape (LON:INCH – Free Report) in a research report released on Thursday, Digital Look reports. They currently have a GBX 1,040 ($12.85) price target on the stock.
Separately, JPMorgan Chase & Co. restated an overweight rating and set a GBX 1,050 ($12.97) target price on shares of Inchcape in a research note on Thursday, April 4th.
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Inchcape Price Performance
Inchcape Increases Dividend
The business also recently disclosed a dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, May 2nd will be issued a dividend of GBX 24.30 ($0.30) per share. This is a positive change from Inchcape’s previous dividend of $9.60. This represents a yield of 3.57%. The ex-dividend date is Thursday, May 2nd. Inchcape’s dividend payout ratio (DPR) is 5,230.77%.
Insider Buying and Selling
In related news, insider Duncan Tait acquired 9,590 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was acquired at an average price of GBX 622 ($7.68) per share, with a total value of £59,649.80 ($73,678.11). In other Inchcape news, insider Byron Elmer Grote purchased 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 12th. The shares were bought at an average price of GBX 637 ($7.87) per share, with a total value of £44,590 ($55,076.58). Also, insider Duncan Tait acquired 9,590 shares of the stock in a transaction on Tuesday, March 5th. The shares were acquired at an average price of GBX 622 ($7.68) per share, with a total value of £59,649.80 ($73,678.11). 11.43% of the stock is owned by company insiders.
Inchcape Company Profile
Inchcape plc operates as an automotive distributor and retailer. It engages in the distribution, sales, and marketing of new and used cars, and parts. The company also provides aftersales service and body shop repairs; and finance and insurance products and services. It operates in the Asia Pacific, the United Kingdom, rest of Europe, the Americas, and Africa.
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