Premium Brands Holdings Corp (PBH) Trading -6.6% Higher Following Dividend Announcement
Shares of Premium Brands Holdings Corp (TSE:PBH) traded up 6.6% during trading on Wednesday after the company announced a dividend. The stock traded as high as C$95.91 and last traded at C$95.15. 376,935 shares traded hands during mid-day trading, an increase of 342% from the average session volume of 85,310 shares. The stock had previously closed at C$101.84.
The newly announced dividend which will be paid on Monday, January 15th. Shareholders of record on Friday, December 29th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $1.68 annualized dividend and a yield of 1.70%. Premium Brands Holdings Corp’s dividend payout ratio is currently 57.55%.
Several research analysts have commented on the stock. Royal Bank Of Canada lowered their price objective on shares of Premium Brands Holdings Corp from C$115.00 to C$111.00 and set an “outperform” rating for the company in a research report on Wednesday. BMO Capital Markets upgraded shares of Premium Brands Holdings Corp from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from C$106.00 to C$107.00 in a research report on Wednesday. TD Securities upgraded shares of Premium Brands Holdings Corp from a “buy” rating to an “action list buy” rating and lowered their price objective for the company from C$122.00 to C$120.00 in a research report on Wednesday. National Bank Financial boosted their price objective on shares of Premium Brands Holdings Corp from C$105.00 to C$110.00 and gave the company an “outperform” rating in a research report on Tuesday, August 15th. Finally, Scotiabank boosted their price objective on shares of Premium Brands Holdings Corp from C$88.00 to C$93.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Premium Brands Holdings Corp has a consensus rating of “Buy” and a consensus target price of C$103.50.
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Premium Brands Holdings Corp Company Profile
Premium Brands Holdings Corp is a Canada-based company that, through its subsidiaries, owns a range of specialty food manufacturing and food distribution businesses. The Company’s segments include Specialty Foods and Premium Food Distribution. Its family of brands and businesses include Conte Foods, Larosa Foods, McSweeney’s, Direct Plus, OvenPride and Island City Baking.
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