Burberry Group (LON:BRBY) Shares Down 7.1% - Here's What Happened

Key Points

• Burberry Group's stock price has dropped by 7.1% to GBX 1,181.96 ($15.99), significantly lower than its previous closing price of GBX 1,272 ($17.21).
• Analysts have mixed ratings for Burberry, with Deutsche Bank maintaining a "hold" rating and a target price of GBX 1,000, while HSBC and Citigroup issued a "buy" rating with higher target prices of GBX 1,600.
• Insider trading activity has increased, with two insiders purchasing shares recently, indicating confidence in the company's future despite the recent stock decline.

Shares of Burberry Group plc (LON:BRBY - Get Free Report) traded down 7.1% on Tuesday . The company traded as low as GBX 1,152.50 ($15.63) and last traded at GBX 1,181.96 ($16.03). 1,956,127 shares were traded during trading, a decline of 68% from the average session volume of 6,175,073 shares. The stock had previously closed at GBX 1,272 ($17.25).

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a GBX 1,000 target price on shares of Burberry Group in a research note on Monday, July 21st. Citigroup raised their target price on shares of Burberry Group from GBX 1,250 to GBX 1,600 and gave the stock a "buy" rating in a research report on Monday, July 28th. Finally, HSBC reaffirmed a "buy" rating and set a GBX 1,600 price target on shares of Burberry Group in a report on Tuesday, September 2nd. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of GBX 1,350.

Burberry Group Stock Down 3.0%

The firm has a market cap of £3.97 billion, a price-to-earnings ratio of -5,287.08, a P/E/G ratio of 1.66 and a beta of 1.06. The company has a current ratio of 1.66, a quick ratio of 1.63 and a debt-to-equity ratio of 136.53. The firm has a 50 day moving average price of GBX 1,238.74 and a 200-day moving average price of GBX 1,023.73.

Insider Transactions at Burberry Group

In other news, insider Kate Ferry purchased 3,228 shares of the business's stock in a transaction dated Friday, June 27th. The stock was acquired at an average price of GBX 1,100 per share, with a total value of £35,508. Also, insider Joshua Schulman purchased 29,744 shares of the business's stock in a transaction dated Friday, June 27th. The shares were purchased at an average cost of GBX 1,069 per share, with a total value of £317,963.36. Insiders bought 34,180 shares of company stock valued at $36,837,808 in the last 90 days. 0.63% of the stock is currently owned by insiders.

About Burberry Group

Burberry Group plc, together with its subsidiaries, manufactures, retails, and wholesales luxury goods under the Burberry brand. The company operates in two segments, Retail/Wholesale and Licensing. It provides womenswear, menswear, childrenswear, beauty, eyewear, shoes, and accessories, as well as leather goods, such as bags.