ATB Capital Issues Positive Forecast for Pet Valu (TSE:PET) Stock Price

Pet Valu (TSE:PET) had its target price upped by ATB Capital from C$40.00 to C$41.00 in a research note released on Wednesday morning,BayStreet.CA reports. ATB Capital currently has an outperform rating on the stock.

PET has been the subject of a number of other research reports. Royal Bank Of Canada lifted their target price on shares of Pet Valu from C$35.00 to C$41.00 and gave the stock an “outperform” rating in a research note on Thursday, July 31st. Stifel Nicolaus lifted their target price on shares of Pet Valu from C$33.00 to C$40.00 and gave the stock a “buy” rating in a research note on Wednesday. Cormark raised shares of Pet Valu from a “hold” rating to a “moderate buy” rating in a research note on Wednesday, May 7th. TD Securities lifted their target price on shares of Pet Valu from C$32.00 to C$35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Stifel Canada upgraded shares of Pet Valu from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 10th. Nine equities research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Pet Valu presently has an average rating of “Buy” and a consensus target price of C$40.22.

Pet Valu Stock Performance

PET stock opened at C$36.29 on Wednesday. The company has a fifty day moving average price of C$32.93 and a 200-day moving average price of C$28.59. The company has a market capitalization of C$2.58 billion, a P/E ratio of 29.92 and a beta of 0.81. Pet Valu has a 52-week low of C$22.53 and a 52-week high of C$36.41.

Pet Valu Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 16th were issued a dividend of $0.12 per share. This is an increase from Pet Valu’s previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Friday, May 30th. Pet Valu’s dividend payout ratio is 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.