|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||15.33 - 16.05|
|52 Week Range||14.40 - 19.17|
|Beta (5Y Monthly)||0.15|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.47 (2.91%)|
|Ex-Dividend Date||Apr 28, 2022|
|1y Target Est||N/A|
Top baby formula makers Reckitt Benckiser and Nestle have ramped up supplies to the United States to resolve a shortage that has emptied shelves and caused panic among parents. Baby formula aisles at U.S. supermarkets have been decimated since top U.S. manufacturer Abbott Laboratories in February recalled formulas after complaints of bacterial infections. Abbott said on Monday it had reached an agreement with the U.S. health regulator to resume production of baby formula at its Michigan plant, marking a major step towards resolving the nationwide shortage.
Reckitt Benckiser is boosting baby formula production by about 30% and making more frequent deliveries to stores as it looks to counter a nationwide shortage in U.S. supermarkets, an executive told Reuters. Reckitt, which makes its U.S. formula in three facilities in Michigan, Indiana and Minnesota, has also granted plants "unlimited overtime" to put in extra shifts, Robert Cleveland, senior vice president, North America and Europe Nutrition at Reckitt, told Reuters in an interview. Along with cutting back on some items that take longer to produce, this has allowed the company to make about 30% more baby formula, he said.
Over the last year, a good number of insiders have significantly increased their holdings in Reckitt Benckiser Group...