Pet Valu (TSE:PET) Hits New 1-Year High - What's Next?

Pet Valu Holdings Ltd. (TSE:PET - Get Free Report) shares hit a new 52-week high during trading on Monday . The company traded as high as C$33.10 and last traded at C$33.06, with a volume of 47547 shares. The stock had previously closed at C$32.64.

Analyst Upgrades and Downgrades

PET has been the subject of a number of recent research reports. CIBC increased their target price on Pet Valu from C$29.00 to C$33.00 in a report on Wednesday, March 5th. Stifel Nicolaus increased their price objective on Pet Valu from C$28.50 to C$33.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Raymond James Financial boosted their target price on shares of Pet Valu from C$34.00 to C$36.00 and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Cormark raised shares of Pet Valu from a "hold" rating to a "moderate buy" rating in a report on Wednesday, May 7th. Finally, National Bankshares set a C$33.00 price target on shares of Pet Valu and gave the company an "outperform" rating in a report on Thursday, June 5th. Seven research analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and an average price target of C$34.33.

Pet Valu Stock Performance

The stock has a market cap of C$2.37 billion, a price-to-earnings ratio of 27.50 and a beta of 0.81. The firm's 50-day simple moving average is C$30.30 and its two-hundred day simple moving average is C$27.03.

Pet Valu Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 16th were given a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 1.44%. The ex-dividend date was Friday, May 30th. This is a boost from Pet Valu's previous quarterly dividend of $0.11. Pet Valu's payout ratio is 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.