Premier Foods (OTCMKTS:PRRFY) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Premier Foods experienced a significant increase in trading volume, with 8,669 shares exchanged, a rise of 668% from the previous day's volume.
• Royal Bank of Canada downgraded Premier Foods from a "moderate buy" to a "hold" rating, although the company still maintains a consensus rating of "Buy."
• The company announced an increase in its dividend, paying $0.1608 per share, up from the previous dividend of $0.09, resulting in a substantial dividend yield of 117.0%.

Shares of Premier Foods PLC. (OTCMKTS:PRRFY - Get Free Report) saw an uptick in trading volume on Monday . 8,669 shares changed hands during trading, an increase of 668% from the previous session's volume of 1,129 shares.The stock last traded at $13.03 and had previously closed at $13.26.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada lowered shares of Premier Foods from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, May 27th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy".

Premier Foods Stock Performance

The company has a current ratio of 1.51, a quick ratio of 1.13 and a debt-to-equity ratio of 0.23. The stock has a 50 day moving average price of $13.21 and a two-hundred day moving average price of $12.96.

Premier Foods Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, August 8th. Stockholders of record on Monday, June 30th were paid a dividend of $0.1608 per share. This represents a dividend yield of 117.0%. The ex-dividend date of this dividend was Friday, June 27th. This is a positive change from Premier Foods's previous dividend of $0.09.

About Premier Foods

Premier Foods plc, together with its subsidiaries, manufactures and distributes branded and own label food products in the United Kingdom, other European countries, and internationally. The company operates through Grocery, Sweet Treats, and international segments. It offers a portfolio of product categories, including flavorings and seasonings under the Bisto, OXO, Paxo, and Saxa brands; cooking sauces and accompaniments under the Sharwood's, Loyd Grossman, Spice Tailor and Homepride brands; quick meals, snacks, and soups under the Batchelors and Smash brands; ambient desserts under the Ambrosia, Bird's, and Angel Delight brands; and ambient cakes under the Mr Kipling and Cadbury brands.

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