Parkland Co. (PKI) to Issue Quarterly Dividend of $0.36 on July 15th

Parkland Co. (TSE:PKI) declared a quarterly dividend on Wednesday, June 11th, RTT News reports. Stockholders of record on Friday, June 20th will be given a dividend of 0.36 per share on Tuesday, July 15th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.77%. This is a 2.9% increase from Parkland’s previous quarterly dividend of $0.35.

Parkland Price Performance

TSE PKI opened at C$38.20 on Friday. The company has a debt-to-equity ratio of 199.87, a quick ratio of 0.73 and a current ratio of 1.39. The firm’s 50 day moving average price is C$36.50 and its 200-day moving average price is C$35.52. Parkland has a 52-week low of C$30.09 and a 52-week high of C$40.29. The company has a market cap of C$6.66 billion, a PE ratio of 27.53, a P/E/G ratio of 11.79 and a beta of 1.33.

Analysts Set New Price Targets

PKI has been the topic of a number of recent research reports. TD Securities downgraded shares of Parkland from a “buy” rating to a “sell” rating and dropped their price objective for the company from C$50.00 to C$44.00 in a research note on Tuesday, May 6th. BMO Capital Markets downgraded shares of Parkland from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 2nd. ATB Capital lowered their price objective on shares of Parkland from C$46.00 to C$45.00 and set an “outperform” rating for the company in a research note on Thursday, April 17th. Scotiabank lowered their price objective on shares of Parkland from C$52.00 to C$44.00 and set an “outperform” rating for the company in a research note on Tuesday, May 6th. Finally, CIBC downgraded shares of Parkland from an “outperform” rating to a “tender” rating and set a C$44.00 price objective for the company. in a research note on Monday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Parkland has a consensus rating of “Moderate Buy” and a consensus price target of C$44.54.

Insider Activity at Parkland

In other Parkland news, Senior Officer Darren Robert Smart sold 5,000 shares of Parkland stock in a transaction on Monday, March 17th. The shares were sold at an average price of C$36.76, for a total value of C$183,800.00. 20.51% of the stock is currently owned by insiders.

Parkland Company Profile

Parkland Corp distributes and markets fuels and lubricants. Refined fuels and other petroleum products are among the variety of offerings the company delivers to motorists, businesses, consumers, and wholesalers in the United States and Canada. Parkland operates through several subsidiaries that are either company owned-and retailer-operated, dealer-owned and dealer-operated, or dealer-cosigned and dealer-operated.