Pet Valu (TSE:PET) Shares Up 1.5% – Here’s What Happened

Pet Valu Holdings Ltd. (TSE:PET) shot up 1.5% during mid-day trading on Monday . The company traded as high as C$27.75 and last traded at C$27.70. 71,172 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 160,298 shares. The stock had previously closed at C$27.30.

Analyst Ratings Changes

Several research firms have weighed in on PET. Desjardins set a C$38.00 price objective on shares of Pet Valu and gave the company a “buy” rating in a research note on Friday, December 19th. Royal Bank Of Canada reduced their price objective on Pet Valu from C$43.00 to C$40.00 in a research report on Wednesday, November 5th. CIBC dropped their target price on Pet Valu from C$42.00 to C$36.00 in a research report on Wednesday, November 5th. TD Securities reduced their price target on Pet Valu from C$44.00 to C$40.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Barclays dropped their price objective on Pet Valu from C$41.00 to C$34.00 in a report on Wednesday, November 5th. Nine investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Pet Valu currently has a consensus rating of “Buy” and a consensus price target of C$38.56.

Pet Valu Stock Performance

The company has a market cap of C$1.91 billion, a P/E ratio of 20.22 and a beta of 0.86. The firm has a 50 day moving average price of C$28.42 and a 200-day moving average price of C$32.72.

Pet Valu (TSE:PET) last posted its earnings results on Tuesday, November 4th. The company reported C$0.40 earnings per share for the quarter. Pet Valu had a return on equity of 100.39% and a net margin of 8.02%.The firm had revenue of C$289.46 million during the quarter. On average, sell-side analysts forecast that Pet Valu Holdings Ltd. will post 1.6820546 EPS for the current fiscal year.

Pet Valu Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 15th were paid a $0.12 dividend. The ex-dividend date was Friday, November 28th. This represents a $0.48 dividend on an annualized basis and a yield of 1.7%. Pet Valu’s dividend payout ratio (DPR) is presently 34.31%.

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.