Pet Valu (TSE:PET) Sets New 52-Week High – Here’s What Happened

Pet Valu Holdings Ltd. (TSE:PET) shares reached a new 52-week high during trading on Tuesday . The company traded as high as C$32.09 and last traded at C$32.04, with a volume of 101969 shares traded. The stock had previously closed at C$31.73.

Analyst Upgrades and Downgrades

PET has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Pet Valu from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Raymond James boosted their price objective on Pet Valu from C$34.00 to C$36.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. ATB Capital boosted their price objective on Pet Valu from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. CIBC boosted their price objective on Pet Valu from C$29.00 to C$33.00 in a research note on Wednesday, March 5th. Finally, Cormark raised Pet Valu from a “hold” rating to a “moderate buy” rating in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, Pet Valu currently has a consensus rating of “Buy” and a consensus target price of C$34.33.

Pet Valu Stock Up 0.9%

The stock has a market capitalization of C$2.28 billion, a price-to-earnings ratio of 26.41 and a beta of 0.81. The firm has a 50-day moving average of C$28.84 and a two-hundred day moving average of C$26.57.

Pet Valu Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 1.50%. This is a positive change from Pet Valu’s previous quarterly dividend of $0.11. The ex-dividend date of this dividend was Friday, May 30th. Pet Valu’s payout ratio is presently 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.