Pets at Home Group (PETS) Reaches New 1-Year High Following Dividend Announcement
Shares of Pets at Home Group PLC (LON:PETS) hit a new 52-week high during mid-day trading on Wednesday following a dividend announcement from the company. The stock traded as high as GBX 167.50 ($2.19) and last traded at GBX 163.90 ($2.14), with a volume of 2728960 shares traded. The stock had previously closed at GBX 148 ($1.93).
The newly announced dividend which will be paid on Tuesday, July 16th. Stockholders of record on Thursday, June 13th will be issued a dividend of GBX 5 ($0.07) per share. This represents a dividend yield of 3.02%. This is a positive change from Pets at Home Group’s previous dividend of $2.50. The ex-dividend date is Thursday, June 13th. Pets at Home Group’s payout ratio is currently 0.97%.
PETS has been the subject of several research reports. Citigroup upgraded Pets at Home Group to a “buy” rating in a report on Wednesday, March 27th. Liberum Capital reiterated a “hold” rating on shares of Pets at Home Group in a report on Monday, February 4th. Numis Securities reiterated a “buy” rating and set a GBX 200 ($2.61) price target on shares of Pets at Home Group in a report on Wednesday. Shore Capital restated a “hold” rating on shares of Pets at Home Group in a report on Monday. Finally, HSBC boosted their target price on Pets at Home Group from GBX 160 ($2.09) to GBX 190 ($2.48) and gave the stock a “buy” rating in a report on Thursday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. Pets at Home Group presently has an average rating of “Hold” and an average target price of GBX 147.40 ($1.93).
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About Pets at Home Group (LON:PETS)
Pets at Home Group Plc, through its subsidiaries, operates as a specialist retailer of pet food, pet related products, and pet accessories in the United Kingdom. The company offers a range of diets for dogs, cats, small mammals, fish, reptiles, and birds. It also provides pet accessories, including collars, leads and harnesses, bedding, housing, feeding, health and hygiene, travel, training, and enrichment products for dogs, cats, small mammals, fish, birds, and reptiles.
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