Premium Brands (TSE:PBH) Given New C$96.00 Price Target at Royal Bank of Canada

Premium Brands (TSE:PBH) had its price objective reduced by Royal Bank of Canada from C$100.00 to C$96.00 in a report issued on Thursday,BayStreet.CA reports.

Several other research analysts have also recently issued reports on the company. Stifel Nicolaus reduced their price objective on Premium Brands from C$106.00 to C$101.00 in a research note on Thursday. TD Securities reduced their price objective on Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a research report on Thursday. National Bankshares lifted their price objective on Premium Brands from C$101.00 to C$109.00 and gave the company a “sector perform” rating in a research note on Thursday, October 24th. Finally, BMO Capital Markets lowered their target price on Premium Brands from C$111.00 to C$94.00 in a research note on Thursday. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of C$108.30.

Premium Brands Stock Up 0.3 %

Shares of PBH traded up C$0.24 during trading hours on Thursday, hitting C$76.30. The company had a trading volume of 123,323 shares, compared to its average volume of 53,389. Premium Brands has a 52-week low of C$75.67 and a 52-week high of C$97.28. The firm has a fifty day moving average price of C$91.17 and a 200-day moving average price of C$90.54. The stock has a market capitalization of C$3.39 billion, a price-to-earnings ratio of 30.43, a P/E/G ratio of 1.10 and a beta of 0.98. The company has a debt-to-equity ratio of 161.28, a quick ratio of 1.16 and a current ratio of 1.56.

Premium Brands (TSE:PBH) last announced its quarterly earnings data on Wednesday, November 6th. The company reported C$1.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of C$1.36 by C($0.25). Premium Brands had a net margin of 1.78% and a return on equity of 6.43%. During the same period in the prior year, the company earned $1.27 EPS. On average, equities research analysts forecast that Premium Brands will post 6.039823 EPS for the current fiscal year.

Premium Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date is Tuesday, December 31st. Premium Brands’s dividend payout ratio is presently 133.86%.

Insider Activity at Premium Brands

In other news, Senior Officer William Dion Kalutycz sold 7,000 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total transaction of C$604,100.00. 2.01% of the stock is owned by corporate insiders.

About Premium Brands

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.