Barclays Cuts Pet Valu (TSE:PET) Price Target to C$27.00

Pet Valu (TSE:PET) had its price target reduced by Barclays from C$28.00 to C$27.00 in a research note published on Wednesday, BayStreet.CA reports.

Separately, Cibc World Mkts upgraded Pet Valu to a “strong-buy” rating in a report on Wednesday, August 7th.

Pet Valu Price Performance

Shares of Pet Valu stock opened at C$24.95 on Wednesday. Pet Valu has a 12 month low of C$23.58 and a 12 month high of C$32.90. The firm’s 50-day moving average price is C$25.51. The company has a market cap of C$1.79 billion, a price-to-earnings ratio of 21.89 and a beta of 0.81.

Pet Valu (TSE:PET) last released its earnings results on Tuesday, November 5th. The company reported C$0.41 EPS for the quarter, beating the consensus estimate of C$0.35 by C$0.06. Pet Valu had a net margin of 7.64% and a return on equity of 128.24%. The company had revenue of C$276.03 million for the quarter, compared to analyst estimates of C$267.68 million. On average, analysts expect that Pet Valu will post 1.6820546 EPS for the current year.

Pet Valu Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 16th will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend is Friday, November 29th. Pet Valu’s dividend payout ratio (DPR) is presently 38.60%.

About Pet Valu

Pet Valu Holdings Ltd. engages in the retail and wholesale of pet foods and pet-related supplies for dogs, cats, fish, birds, reptiles, and small animals in Canada. It offers food and treats for dogs and cats, cat litter, dog and cat toys, collars and leashes, health and wellness solutions, waste management solutions, pet cages and carriers, flea and tick products, and pet apparel and other related accessories.