Pet Valu (TSE:PET) Hits New 12-Month High – Still a Buy?

Pet Valu Holdings Ltd. (TSE:PET) shares reached a new 52-week high on Monday . The stock traded as high as C$32.67 and last traded at C$32.67, with a volume of 98277 shares. The stock had previously closed at C$31.95.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PET. Desjardins raised shares of Pet Valu to a “moderate buy” rating in a research report on Friday, May 16th. Royal Bank Of Canada increased their target price on Pet Valu from C$34.00 to C$35.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Raymond James Financial boosted their price target on Pet Valu from C$34.00 to C$36.00 and gave the company an “outperform” rating in a report on Wednesday, May 7th. Cormark raised shares of Pet Valu from a “hold” rating to a “moderate buy” rating in a report on Wednesday, May 7th. Finally, ATB Capital increased their target price on shares of Pet Valu from C$39.00 to C$40.00 and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of C$34.33.

Pet Valu Price Performance

The firm’s fifty day moving average price is C$29.41 and its 200-day moving average price is C$26.71. The company has a market cap of C$2.31 billion, a price-to-earnings ratio of 26.75 and a beta of 0.81.

Pet Valu Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were paid a $0.12 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.48 annualized dividend and a dividend yield of 1.48%. This is a positive change from Pet Valu’s previous quarterly dividend of $0.11. Pet Valu’s dividend payout ratio (DPR) 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.