CIBC Lowers Pet Valu (TSE:PET) Price Target to C$29.00

Pet Valu (TSE:PET) had its target price reduced by CIBC from C$31.00 to C$29.00 in a research note released on Wednesday morning,BayStreet.CA reports. They currently have an outperform rating on the stock.

PET has been the subject of a number of other research reports. Cormark lowered Pet Valu from a “moderate buy” rating to a “hold” rating in a research note on Wednesday, November 6th. TD Securities lowered their target price on Pet Valu from C$32.00 to C$30.00 and set a “buy” rating for the company in a research note on Wednesday, November 6th. Barclays lowered their target price on Pet Valu from C$28.00 to C$27.00 in a research note on Wednesday, November 6th. Raymond James lowered their target price on Pet Valu from C$36.00 to C$34.00 in a research note on Wednesday, November 6th. Finally, Royal Bank of Canada boosted their target price on Pet Valu from C$34.00 to C$35.00 in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating, two have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Pet Valu has a consensus rating of “Buy” and an average target price of C$31.00.

Pet Valu Stock Down 0.3 %

Shares of PET stock opened at C$24.51 on Wednesday. The business has a 50-day moving average price of C$25.34 and a two-hundred day moving average price of C$25.52. Pet Valu has a 12-month low of C$23.58 and a 12-month high of C$32.74. The firm has a market cap of C$1.74 billion, a P/E ratio of 20.21 and a beta of 0.81.

Pet Valu Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 16th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.44 dividend on an annualized basis and a yield of 1.80%. Pet Valu’s dividend payout ratio is presently 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.