Pet Valu (TSE:PET) Reaches New 1-Year High – Here’s What Happened

Shares of Pet Valu Holdings Ltd. (TSE:PET) hit a new 52-week high on Thursday . The stock traded as high as C$30.74 and last traded at C$30.66, with a volume of 2996 shares changing hands. The stock had previously closed at C$30.71.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Stifel Canada raised Pet Valu from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 10th. Desjardins raised shares of Pet Valu to a “moderate buy” rating in a report on Friday, May 16th. Stifel Nicolaus increased their price target on shares of Pet Valu from C$28.50 to C$33.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. ATB Capital raised their price target on shares of Pet Valu from C$39.00 to C$40.00 and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Finally, TD Securities upped their price objective on shares of Pet Valu from C$32.00 to C$35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Pet Valu presently has a consensus rating of “Buy” and an average price target of C$34.33.

Pet Valu Price Performance

The company’s fifty day simple moving average is C$27.46 and its 200-day simple moving average is C$26.20. The firm has a market capitalization of C$2.18 billion, a PE ratio of 25.28 and a beta of 0.81.

Pet Valu Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be paid a $0.12 dividend. The ex-dividend date is Friday, May 30th. This is a positive change from Pet Valu’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.57%. Pet Valu’s dividend payout ratio (DPR) is currently 36.27%.

Pet Valu Company Profile

Pet Valu Holdings Ltd is engaged in providing pet-related products through its stores. Its products include Dry Food, Wet Food, Frozen raw food, Jerky Treats, and Training treats among others. The services offered by the company include Dog Wash, Adoption, Grooming, and Frozen Raw.