The Motley Fool

Why Catapult, Metcash, Perpetual, & Retail Food Group shares sank lower today

It has been a very positive day of trade for the benchmark S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) on Wednesday. In afternoon trade the index is up 0.5% to 6,228.5 points.

Four shares that have failed to follow the market higher today are listed below. Here’s why they have sunk lower:

The Catapult Group International Ltd (ASX: CAT) share price is down 3% to 78 cents despite there being no news out of the sports analytics and wearables company. However, prior to today Catapult’s shares had rallied 29% higher in the space of just two weeks. Today’s decline could be down to profit taking from some investors. Despite this recent rally, its shares are down by almost a third over the last 12 months.

The Metcash Limited (ASX: MTS) share price is down 2.5% to $2.73. As with Catapult, a recent rally in the Metcash share price could have led to a spot of profit taking today. Especially after analysts at Citi held firm with their sell rating. According to the note, the broker believes there are structural challenges on the horizon that could lead to the company falling short of expectations. It has a $2.45 price target on Metcash’s shares.

The Perpetual Limited (ASX: PPT) share price is down 4% to $40.03. The majority of the fund manager’s decline is attributable to its shares trading ex-dividend this morning for its $1.25 per share interim dividend. Eligible shareholders can now look forward to receiving this dividend in their nominated accounts on March 29.

The Retail Food Group Limited (ASX: RFG) share price has plunged 12.5% lower to an all-time low of 21 cents despite there being no news out of the embattled food and beverage company. Last week Retail Food Group released its half year results and posted a 1.8% decline in revenue from continuing operations to $192 million and a massive statutory net loss of $111.1 million. On an underlying basis net profit after tax fell 73.4% to $6.6 million.

NEW! Top 3 Dividend Bets for 2019

With interest rates likely to stay at rock bottom for months (or YEARS) to come, income-minded investors have nowhere to turn... except dividend shares. That’s why The Motley Fool’s top analysts have just prepared a brand-new report, laying out their top 3 dividend bets for 2019.

Hint: These are 3 shares you’ve probably never come across before.

They’re not the banks. Not Woolies or Wesfarmers or any of the “usual suspects.”

We think these 3 shares offer solid growth prospects over the next 12 months. The first two currently offer fat, fully franked yields. The last is a surprising REIT offering you the benefits of being a landlord with none of the hassle! You’ll discover all three names and codes in "The Motley Fool’s Top 3 Dividend Shares for 2019."

Even better, your copy is free when you click the link below. Fair warning: This report is brand new and may not be available forever. Click the link below to be among the first investors to get access to this timely, important new research!

The names of these top 3 dividend bets are all included. But you will have to hurry. Depending on demand – and how quickly the share prices of these companies move – we may be forced to remove this report.

Click here to claim your free copy right now!

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Catapult Group International Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

FREE REPORT: Five Cheap and Good Stocks to Buy now…

Our Motley Fool experts have FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.7% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.