Premium Brands Holdings Corp (PBH) Reaches New 52-Week High Following Analyst Upgrade
Premium Brands Holdings Corp (TSE:PBH) shares hit a new 52-week high during trading on Thursday after TD Securities raised their price target on the stock from C$120.00 to C$125.00. TD Securities currently has an action list buy rating on the stock. Premium Brands Holdings Corp traded as high as C$109.80 and last traded at C$104.72, with a volume of 207936 shares changing hands. The stock had previously closed at C$97.70.
Several other brokerages have also issued reports on PBH. Royal Bank Of Canada lowered their target price on Premium Brands Holdings Corp from C$109.00 to C$11.00 and set an “outperform” rating for the company in a research report on Tuesday, August 15th. BMO Capital Markets reaffirmed a “market perform” rating and set a C$106.00 target price on shares of Premium Brands Holdings Corp in a research report on Tuesday, August 15th. Scotiabank raised their target price on Premium Brands Holdings Corp from C$88.00 to C$93.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 15th. Pi Financial raised their target price on Premium Brands Holdings Corp from C$112.00 to C$115.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, National Bank Financial raised their target price on Premium Brands Holdings Corp from C$105.00 to C$110.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 15th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of C$108.21.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Investors of record on Friday, December 29th will be given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Thursday, December 28th. Premium Brands Holdings Corp’s dividend payout ratio is currently 58.99%.
Premium Brands Holdings Corp Company Profile
Premium Brands Holdings Corporation manufactures and distributes food products in Canada and the United States. It operates through two segments, Specialty Foods and Premium Food Distribution. The company provides premium and natural processed meat products, specialty deli products, meat snacks, beef jerky and halal products, sandwiches, pastries, specialty and gourmet products, salads and kettle products, entres, panini products, wraps, subs, hamburgers, burgers, muffins, breads, specialty pastas, and sushi products.
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