Canaccord Genuity Group Reiterates “Buy” Rating for Pets at Home Group (LON:PETS)

Canaccord Genuity Group reiterated their buy rating on shares of Pets at Home Group (LON:PETS) in a research report sent to investors on Monday morning, MarketBeat Ratings reports. The brokerage currently has a GBX 350 ($4.48) target price on the stock.

A number of other brokerages have also issued reports on PETS. Berenberg Bank lowered their target price on shares of Pets at Home Group from GBX 390 ($5.00) to GBX 330 ($4.23) and set a hold rating for the company in a research note on Thursday, May 30th. Jefferies Financial Group reissued a buy rating and issued a GBX 425 ($5.44) price objective on shares of Pets at Home Group in a research report on Wednesday, March 20th.

Pets at Home Group Price Performance

PETS opened at GBX 295.80 ($3.79) on Monday. The business has a fifty day moving average of GBX 296.98 and a 200 day moving average of GBX 289.29. The stock has a market cap of £1.38 billion, a P/E ratio of 1,848.75, a PEG ratio of 2.66 and a beta of 0.55. The company has a quick ratio of 0.57, a current ratio of 0.65 and a debt-to-equity ratio of 45.27. Pets at Home Group has a 52-week low of GBX 251 ($3.22) and a 52-week high of GBX 400.20 ($5.13).

Pets at Home Group Increases Dividend

The company also recently announced a dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Thursday, June 6th will be issued a GBX 8.30 ($0.11) dividend. This represents a dividend yield of 2.93%. This is a boost from Pets at Home Group’s previous dividend of $4.50. The ex-dividend date of this dividend is Thursday, June 6th. Pets at Home Group’s dividend payout ratio is currently 8,125.00%.

Insider Activity

In related news, insider Michael Iddon sold 17,832 shares of the company’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of GBX 289 ($3.70), for a total value of £51,534.48 ($66,010.61). Insiders own 6.90% of the company’s stock.

About Pets at Home Group

Pets at Home Group Plc engages in the specialist omnichannel retailing of pet food, pet related products, and pet accessories in the United Kingdom. It operates through three segments: Retail, Vet Group, and Central. The company offers pet grooming services comprising a full dog groom, bath, microchipping, and nail clipping; and pet insurance products.