Pet Valu (TSE:PET) Stock Price Up 2% Following Dividend Announcement

Pet Valu Holdings Ltd. (TSE:PET) traded up 2% during trading on Friday after the company announced a dividend. The stock traded as high as C$27.54 and last traded at C$27.38. 41,100 shares were traded during mid-day trading, a decline of 43% from the average session volume of 72,497 shares. The stock had previously closed at C$26.84.

The newly announced dividend which will be paid on Monday, December 16th. Stockholders of record on Monday, December 16th will be given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 1.61%. The ex-dividend date of this dividend is Friday, November 29th. Pet Valu’s payout ratio is presently 38.60%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Cormark lowered shares of Pet Valu from a “moderate buy” rating to a “hold” rating in a report on Wednesday, November 6th. Raymond James decreased their price target on shares of Pet Valu from C$36.00 to C$34.00 in a report on Wednesday, November 6th. TD Securities decreased their price target on shares of Pet Valu from C$32.00 to C$30.00 and set a “buy” rating on the stock in a report on Wednesday, November 6th. Barclays decreased their price target on shares of Pet Valu from C$28.00 to C$27.00 in a report on Wednesday, November 6th. Finally, Royal Bank of Canada lifted their price target on shares of Pet Valu from C$34.00 to C$35.00 in a report on Wednesday, November 6th.

Pet Valu Stock Up 2.0 %

The firm has a market capitalization of C$1.96 billion, a PE ratio of 24.02 and a beta of 0.81. The business has a fifty day moving average of C$25.94.

Pet Valu (TSE:PET) last posted its earnings results on Tuesday, November 5th. The company reported C$0.41 earnings per share for the quarter, topping analysts’ consensus estimates of C$0.35 by C$0.06. The firm had revenue of C$276.03 million for the quarter, compared to analyst estimates of C$267.68 million. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. As a group, sell-side analysts anticipate that Pet Valu Holdings Ltd. will post 1.6820546 earnings per share for the current year.

About Pet Valu

Pet Valu Holdings Ltd. engages in the retail and wholesale of pet foods and pet-related supplies for dogs, cats, fish, birds, reptiles, and small animals in Canada. It offers food and treats for dogs and cats, cat litter, dog and cat toys, collars and leashes, health and wellness solutions, waste management solutions, pet cages and carriers, flea and tick products, and pet apparel and other related accessories.