Pet Valu Holdings Ltd. (TSE:PET) Plans Dividend Increase - $0.12 Per Share

Pet Valu Holdings Ltd. (TSE:PET - Get Free Report) declared a quarterly dividend on Friday, May 30th, TickerTech Dividends reports. Stockholders of record on Monday, June 16th will be paid a dividend of 0.12 per share on Monday, June 16th. This represents a $0.48 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend is Friday, May 30th. This is a 9.1% increase from Pet Valu's previous quarterly dividend of $0.11.

Pet Valu Stock Up 1.2%

Shares of PET stock traded up C$0.36 during trading hours on Friday, hitting C$30.66. 123,064 shares of the company's stock were exchanged, compared to its average volume of 79,418. The firm has a market cap of C$2.18 billion, a P/E ratio of 25.28 and a beta of 0.81. The firm has a 50 day moving average of C$27.34 and a two-hundred day moving average of C$26.17. Pet Valu has a fifty-two week low of C$22.53 and a fifty-two week high of C$30.85.

Analysts Set New Price Targets

Several brokerages recently commented on PET. National Bankshares boosted their price target on Pet Valu from C$30.00 to C$33.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. TD Securities boosted their price target on Pet Valu from C$32.00 to C$35.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Stifel Nicolaus boosted their price target on Pet Valu from C$28.50 to C$33.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Cormark upgraded Pet Valu from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, May 7th. Finally, Barclays upped their target price on Pet Valu from C$27.00 to C$32.00 in a report on Wednesday, March 5th. Seven investment analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of C$34.33.

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.