Dollarama (TSE:DOL) Stock Passes Above 200 Day Moving Average - Here's What Happened

Key Points

• Dollarama Inc. shares crossed above their 200-day moving average, last trading at C$192.56 with a significant volume of 248,004 shares.
• Various analysts boosted their price targets for Dollarama, with changes including an increase to C$215.00 by BMO Capital Markets and C$223.00 by Jefferies Financial Group, reflecting strong market confidence.
• Dollarama announced a quarterly dividend of $0.1058 per share, with an annualized yield of 0.2% and a low payout ratio of 9.42%.

Dollarama Inc. (TSE:DOL - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of C$167.73 and traded as high as C$193.22. Dollarama shares last traded at C$192.56, with a volume of 248,004 shares changing hands.

Analyst Ratings Changes

Several brokerages recently commented on DOL. Desjardins boosted their price target on Dollarama from C$165.00 to C$185.00 and gave the company a "buy" rating in a research note on Tuesday, June 10th. TD Securities boosted their target price on shares of Dollarama from C$185.00 to C$210.00 and gave the stock a "buy" rating in a research report on Thursday, June 12th. Jefferies Financial Group upped their target price on Dollarama from C$180.00 to C$223.00 in a research note on Thursday, June 12th. Royal Bank Of Canada raised their target price on Dollarama from C$190.00 to C$207.00 in a research note on Thursday, June 12th. Finally, Canaccord Genuity Group raised their price target on Dollarama from C$168.00 to C$178.00 in a report on Thursday, June 5th. Four analysts have rated the stock with a hold rating, six have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of C$186.36.

Dollarama Stock Performance

The company has a quick ratio of 0.08, a current ratio of 1.43 and a debt-to-equity ratio of 369.36. The stock has a market cap of C$53.14 billion, a P/E ratio of 48.98, a PEG ratio of 1.93 and a beta of 0.56. The stock has a fifty day simple moving average of C$189.85 and a 200-day simple moving average of C$168.77.

Dollarama Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 8th. Shareholders of record on Friday, August 8th were issued a dividend of $0.1058 per share. The ex-dividend date was Friday, July 11th. This represents a $0.42 dividend on an annualized basis and a yield of 0.2%. Dollarama's dividend payout ratio (DPR) is 9.42%.

Insider Transactions at Dollarama

In other news, Director John Assaly sold 9,089 shares of Dollarama stock in a transaction dated Thursday, June 19th. The stock was sold at an average price of C$189.28, for a total transaction of C$1,720,392.28. Following the transaction, the director owned 973 shares in the company, valued at C$184,172.26. The trade was a 90.33% decrease in their position. Also, Director Nicolas Hien sold 4,131 shares of Dollarama stock in a transaction dated Friday, June 13th. The shares were sold at an average price of C$192.31, for a total value of C$794,433.02. 2.23% of the stock is currently owned by company insiders.

Dollarama Company Profile

Dollarama Inc is a Canada-based company principally engaged in operating discount retail stores. The company provides a broad range of everyday consumer products, general merchandise, and seasonal items, with merchandise at low fixed price points. General merchandise and consumer products jointly account for the majority of the company's product offerings.