Pet Valu (TSE:PET) Reaches New 12-Month High - Here's Why

Pet Valu Holdings Ltd. (TSE:PET - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as C$31.86 and last traded at C$31.10, with a volume of 516696 shares trading hands. The stock had previously closed at C$30.54.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TD Securities upped their target price on Pet Valu from C$32.00 to C$35.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Raymond James increased their price target on Pet Valu from C$34.00 to C$36.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. National Bankshares set a C$33.00 price target on Pet Valu and gave the stock an "outperform" rating in a research report on Thursday. Cormark upgraded Pet Valu from a "hold" rating to a "moderate buy" rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus raised their target price on Pet Valu from C$28.50 to C$33.00 and gave the company a "buy" rating in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, Pet Valu currently has a consensus rating of "Buy" and a consensus target price of C$34.33.

Pet Valu Stock Down 0.5%

The firm has a market cap of C$2.24 billion, a price-to-earnings ratio of 25.97 and a beta of 0.81. The stock's 50 day moving average is C$27.74 and its 200 day moving average is C$26.31.

Pet Valu Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 16th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Friday, May 30th. This is a boost from Pet Valu's previous quarterly dividend of $0.11. This represents a $0.48 dividend on an annualized basis and a yield of 1.52%. Pet Valu's dividend payout ratio is currently 36.27%.

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.