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Pin to quick picksOcado Share News (OCDO)

Share Price Information for Ocado (OCDO)

London Stock Exchange
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Share Price: 355.60
Bid: 357.00
Ask: 357.50
Change: 5.60 (1.60%)
Spread: 0.50 (0.14%)
Open: 352.00
High: 378.90
Low: 350.70
Prev. Close: 350.00
OCDO Live PriceLast checked at -

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M&S paying high price for being late to online food party, says RBC Capital

Mon, 11th Mar 2019 08:46

(Sharecast News) - RBC Capital Markets upped its price target for Ocado on Monday but cut its target for Marks & Spencer as it accounted for the joint venture announced last month.Online delivery specialist Ocado announced in February that it had agreed to sell M&S a 50% share in its UK retail business for up to £750m. M&S said at the time that it was slashing its dividend by 40% and planning a rights issue to raise up to £600m to pay for the £562.5m upfront portion of the deal.The JV will trade as Ocado.com but have access to M&S's brand, products and customer database from the switchover date of September 2020, as Ocado's current deal with Waitrose is being terminated. The M&S-branded food and beverage range will be combined with Ocado's existing range of Ocado own label and third-party branded products to offer more than 50,000 products.RBC said the JV with M&S is "additional validation of Ocado's best-in-class solution". However, this is fairly reflected in the share price. In addition, the bank said it was remaining on the side lines with its 'sector perform' rating in light of execution risk and lack of visibility on future cash flow.It lifted its price target on Ocado to 1,000p from 750p. The bank said it values the JV with M&S at 230p a share on a discounted cash flow basis. It values the company's solutions business at 220p a share, reflecting the current deals with Morrisons, Bon Preu, Casino, Sobeys, ICA and Kroger and the Ocado Retail JV.Finally, RBC said it was incorporating likely future deals in its valuation worth 520p by assuming Ocado can reach 15% global market share through it partners.The bank, which also has a 'sector perform' rating on M&S, cut that price target to 270p from 300p as it reduces its FY20-22 earnings per share forecasts by around 10%, having taken a detailed look at the JV with Ocado."While we see some strategic benefits, we think M&S has paid a high price for being late to the party in online food, and we question whether it can retain the £70m of targeted synergies given potential need for price realignment," it said.RBC also cautioned that this is the second time in 10 years that M&S has cut its dividend payout."Essentially M&S is moving from being a high yield no growth stock, to one with a more moderate yield (4%) but with some potential for EPS growth in the longer term, albeit the Ocado JV is unlikely to be material to the bottom line for several years."At 1510 GMT, M&S shares were up 0.1% to 265.60p and Ocado shares were 0.4% firmer at 1,058p.
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24 Aug 2023 08:23

UK supermarket Asda launches fresh round of price cuts

LONDON, Aug 24 (Reuters) - British supermarket Asda on Thursday followed rivals Ocado Retail and Sainsbury's in announcing a fresh round of price cuts, adding to the downward trajectory in UK food inflation.

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23 Aug 2023 10:24

Britain's Ocado Retail and Sainsbury's cut prices again

Ocado Retail cuts prices of 200 products

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23 Aug 2023 00:01

Britain's Ocado Retail cuts prices again

Heinz beans, Quaker oats among price reductions

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22 Aug 2023 16:56

LONDON MARKET CLOSE: FTSE 100 snaps seven day losing streak

(Alliance News) - Stocks in London were higher at the close on Tuesday as markets celebrated better-than-expected public sector borrowing figures in the UK, and hoped that Chancellor Jeremy Hunt may have enough firepower in government coffers to enact some pre-election tax cuts.

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15 Aug 2023 11:56

LONDON MARKET MIDDAY: FTSE 100 down as wage growth sparks rate fears

(Alliance News) - Stock prices in London were lower at midday on Tuesday, as wage growth fuelled talks of the Bank of England's next move.

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15 Aug 2023 08:57

TOP NEWS: UK grocery price inflation eases; Ocado loses market share

(Alliance News) - Grocery price inflation in the UK cooled by just over two percentage points to 12.7% in the four weeks that ended August 6, the second sharpest slowdown in price in 15 years, according to survey data from Kantar, with staples such as milk and vegetable oil seeing price cuts.

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27 Jul 2023 16:09

Highly shorted Ocado almost trebles in value from June lows

MILAN, July 27 (Reuters) - Shares in Ocado swung widely on Thursday following a two-month rally that has kept traders guessing over potential suitors circling the British online supermarket.

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27 Jul 2023 11:30

Ocado set to treble in value from June lows

MILAN, July 27 (Reuters) - Shares in Ocado continued their ascent on Thursday and looked set to treble in value from the lows in early June in a rally that has kept traders guessing over potential suitors circling the British online supermarket.

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27 Jul 2023 10:34

IN BRIEF: Ocado Solutions CEO Jensen to depart; board member replaces

Ocado Group PLC - Hertfordshire-based online grocer and warehouse technology firm - Luke Jensen will step down as chief executive officer of Ocado Solutions on September 30, in order to focus on external non-executive director positions. Jensen has been CEO of Ocado Solutions since 2017. The division offers Ocado's grocery warehouse and delivery technology to other supermarkets.

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27 Jul 2023 08:15

Luke Jensen stepping down from Ocado Solutions

(Sharecast News) - Technology-driven online grocer Ocado Group announced the upcoming retirement of Luke Jensen, the current executive director and CEO of Ocado Solutions, on Thursday.

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24 Jul 2023 17:09

UK's FTSE 100 edges higher on gains in energy shares

Vodafone Group up after Q1 results

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24 Jul 2023 16:59

LONDON MARKET CLOSE: FTSE 100 shakes off weak PMI readings

(Alliance News) - Blue-chip European equities took confidence from a decent open in New York, despite some less-than-stellar PMI data darkening the mood earlier on Monday.

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24 Jul 2023 12:04

LONDON MARKET MIDDAY: China stimulus impatience keeps lid on sentiment

(Alliance News) - Equity prices in Europe were mixed heading into Monday afternoon, with a warning of the challenges facing the Chinese economy hurting investor sentiment at the start of a busy week of central banking action.

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24 Jul 2023 08:48

LONDON MARKET OPEN: Lower start with eyes on trio of rate decisions

(Alliance News) - Stock prices in London opened largely lower on Monday as markets looked ahead to a week of interest decisions from three major central banks.

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24 Jul 2023 07:51

LONDON BRIEFING: Stocks to open lower; Vodafone quarterly revenue dips

(Alliance News) - Stocks in London are set to open lower on Monday, ahead of a busy week focused on key interest rate decisions from the three major central banks.

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