Desjardins upgraded shares of Pet Valu (TSE:PET - Free Report) to a moderate buy rating in a report issued on Friday morning,Zacks.com reports.
A number of other research firms have also recently issued reports on PET. National Bankshares raised their price target on shares of Pet Valu from C$30.00 to C$33.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Stifel Canada raised Pet Valu from a "hold" rating to a "strong-buy" rating in a research report on Thursday, April 10th. Stifel Nicolaus raised their target price 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. Cormark upgraded Pet Valu from a "hold" rating to a "moderate buy" rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada increased their price objective on Pet Valu from C$34.00 to C$35.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Seven analysts have rated the stock with a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of C$34.33.
Check Out Our Latest Stock Report on PET
Pet Valu Stock Up 0.8%
Shares of Pet Valu stock traded up C$0.25 during midday trading on Friday, hitting C$30.06. The company had a trading volume of 38,886 shares, compared to its average volume of 78,776. The company has a fifty day simple moving average of C$26.67 and a 200 day simple moving average of C$25.97. The stock has a market cap of C$2.14 billion, a price-to-earnings ratio of 24.78 and a beta of 0.81. Pet Valu has a 12-month low of C$22.53 and a 12-month high of C$30.74.
Pet Valu Increases Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 16th will be paid a $0.12 dividend. This is an increase from Pet Valu's previous quarterly dividend of $0.11. The ex-dividend date of this dividend is Friday, May 30th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.60%. Pet Valu's dividend payout ratio is presently 36.27%.
About Pet Valu
(
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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.
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