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

Pet Valu Holdings Ltd. (TSE:PET) shares hit 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 traded. The stock had previously closed at C$31.95.

Analyst Ratings Changes

Several equities analysts have recently issued reports on PET shares. Stifel Nicolaus boosted their price objective on Pet Valu from C$28.50 to C$33.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. Barclays boosted their price target on Pet Valu from C$27.00 to C$32.00 in a report on Wednesday, March 5th. Stifel Canada raised shares of Pet Valu from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 10th. CIBC boosted their target price on shares of Pet Valu from C$29.00 to C$33.00 in a research note on Wednesday, March 5th. Finally, Cormark raised shares of Pet Valu from a “hold” rating to a “moderate buy” rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of C$34.33.

Pet Valu Stock Performance

The firm’s 50-day moving average price is C$29.41 and its two-hundred day moving average price is C$26.71. The stock 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 announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 16th were issued a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.48%. 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%.

About Pet Valu

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.