Shoprite (OTCMKTS:SRGHY) Shares Down 1% – Should You Sell?

Shoprite Holdings Ltd (OTCMKTS:SRGHY)’s stock price was down 1% on Monday . The stock traded as low as $16.13 and last traded at $16.27. Approximately 29,022 shares were traded during trading, an increase of 248% from the average daily volume of 8,351 shares. The stock had previously closed at $16.43.

Analysts Set New Price Targets

Separately, Investec upgraded shares of Shoprite to a “buy” rating in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Shoprite Stock Down 1.0%

The stock has a 50 day simple moving average of $16.65 and a 200-day simple moving average of $15.92.

Shoprite Announces Dividend

The firm also recently declared a dividend, which was paid on Thursday, October 9th. Shareholders of record on Monday, September 29th were paid a $0.2052 dividend. This represents a yield of 184.0%. The ex-dividend date was Friday, September 26th. Shoprite’s dividend payout ratio is presently 60.55%.

Shoprite Company Profile

Shoprite Holdings Ltd, an investment holding company, primarily engages in the food retailing business in South Africa and internationally. The company operates through four segments: Supermarkets RSA, Supermarkets Non-RSA, Furniture, and Other Operating segments. It also offers clothing, general merchandise, cosmetics, and liquor products; furniture and home entertainment products; and electrical and household appliances.