Premium Brands (TSE:PBH) Stock Price Crosses Below Two Hundred Day Moving Average of $92.80

Premium Brands Holdings Co. (TSE:PBH) crossed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of C$92.80 and traded as low as C$87.34. Premium Brands shares last traded at C$88.70, with a volume of 153,711 shares traded.

Wall Street Analyst Weigh In

PBH has been the topic of several analyst reports. Stifel Nicolaus dropped their target price on Premium Brands from C$108.00 to C$104.00 and set a “buy” rating on the stock in a report on Monday, March 18th. Desjardins decreased their target price on shares of Premium Brands from C$110.00 to C$105.00 and set a “buy” rating for the company in a research note on Monday, March 18th. Royal Bank of Canada dropped their price target on shares of Premium Brands from C$103.00 to C$99.00 and set a “sector perform” rating on the stock in a research note on Monday, March 18th. CIBC dropped their target price on Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating on the stock in a research report on Monday, March 18th. Finally, Pi Financial restated a “buy” rating and set a C$111.00 price objective on shares of Premium Brands in a report on Thursday, December 7th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Premium Brands currently has an average rating of “Moderate Buy” and an average target price of C$111.50.

Premium Brands Stock Performance

The company has a 50-day moving average of C$90.90 and a 200-day moving average of C$92.77. The firm has a market capitalization of C$3.93 billion, a price-to-earnings ratio of 41.94, a price-to-earnings-growth ratio of 1.10 and a beta of 1.03. The company has a current ratio of 2.08, a quick ratio of 1.16 and a debt-to-equity ratio of 149.12.

Premium Brands Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.84%. This is a boost from Premium Brands’s previous quarterly dividend of $0.77. The ex-dividend date is Wednesday, March 27th. Premium Brands’s dividend payout ratio is 161.14%.

Premium Brands Company Profile

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, and baking and sushi products.