Insider Selling: K Bro Linen Inc (KBL) Insider Sells 650 Shares of Stock

K Bro Linen Inc (TSE:KBL) insider Ryo Utahara sold 650 shares of the firm’s stock in a transaction on Friday, December 15th. The shares were sold at an average price of C$42.50, for a total value of C$27,625.00.

Shares of K Bro Linen Inc (KBL) remained flat at $C$42.50 on Friday. The stock had a trading volume of 123,877 shares, compared to its average volume of 11,229. K Bro Linen Inc has a 12 month low of C$37.39 and a 12 month high of C$45.00.

The business also recently announced a monthly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.10 per share. This represents a $1.20 annualized dividend and a yield of 2.82%. The ex-dividend date of this dividend is Wednesday, November 29th. K Bro Linen’s payout ratio is presently 115.38%.

Several equities research analysts recently weighed in on KBL shares. National Bank Financial reissued an “outperform” rating and set a C$46.00 price objective on shares of K Bro Linen in a report on Wednesday. TD Securities raised their price objective on K Bro Linen from C$45.00 to C$48.00 and gave the company a “buy” rating in a report on Friday.

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K Bro Linen Company Profile

K Bro Linen Inc is a Canada-based owner and operator of laundry and linen processing facilities. The Company provides laundry and linen services to healthcare institutions, hotels and other commercial accounts. The Company’s services include the processing, management and distribution of general and operating room linens (K Bro Operating Room (KOR) Services), including sheets, blankets, towels, tablecloths, surgical gowns and drapes, and other types of linen.

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