Reckitt Benckiser Executes Share Buyback, Adjusts Voting Rights

The latest announcement is out from Reckitt ( (GB:RKT) ).

Reckitt Benckiser Group PLC announced the repurchase of 80,000 ordinary shares, which will be held in treasury, following shareholder approval at the 2024 Annual General Meeting. This transaction, conducted through HSBC Bank plc, impacts the total number of voting rights in the company, now standing at 681,231,575, and may influence shareholder notifications under FCA regulations.

The most recent analyst rating on (GB:RKT) stock is a Buy with a £51.00 price target. To see the full list of analyst forecasts on Reckitt stock, see the GB:RKT Stock Forecast page.

Spark’s Take on GB:RKT Stock

According to Spark, TipRanks’ AI Analyst, GB:RKT is a Outperform.

Reckitt’s overall stock score reflects its solid financial performance and effective cash flow management, supported by strategic initiatives like share buybacks. While technical analysis indicates potential short-term bearish trends, positive earnings call sentiment and proactive corporate actions contribute positively. The moderate P/E ratio suggests caution regarding valuation, but the attractive dividend yield provides a counterbalance, supporting a stable outlook.

To see Spark’s full report on GB:RKT stock, click here.

More about Reckitt

Reckitt Benckiser Group PLC operates in the consumer goods industry, focusing on health, hygiene, and nutrition products. The company is known for its wide range of products including household cleaning supplies, over-the-counter medications, and nutritional supplements, catering to a global market.

Average Trading Volume: 1,573,589

Technical Sentiment Signal: Hold

Current Market Cap: £33.04B

See more insights into RKT stock on TipRanks’ Stock Analysis page.