Royal Bank of Canada Lowers Premium Brands (TSE:PBH) Price Target to C$96.00

Premium Brands (TSE:PBH) had its price target reduced by Royal Bank of Canada from C$100.00 to C$96.00 in a research report released on Thursday,BayStreet.CA reports.

PBH has been the topic of several other reports. TD Securities lowered their target price on shares of Premium Brands from C$129.00 to C$120.00 and set a “buy” rating on the stock in a research report on Thursday. BMO Capital Markets decreased their target price on Premium Brands from C$111.00 to C$94.00 in a research report on Thursday. Stifel Nicolaus cut their price target on Premium Brands from C$106.00 to C$101.00 in a research note on Thursday. Finally, National Bankshares boosted their price objective on shares of Premium Brands from C$101.00 to C$109.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Premium Brands presently has an average rating of “Moderate Buy” and an average target price of C$108.30.

Premium Brands Stock Performance

Shares of PBH stock opened at C$76.55 on Thursday. The company has a current ratio of 1.56, a quick ratio of 1.16 and a debt-to-equity ratio of 161.28. Premium Brands has a 12-month low of C$75.67 and a 12-month high of C$97.28. The company has a market cap of C$3.40 billion, a price-to-earnings ratio of 30.14, a price-to-earnings-growth ratio of 1.10 and a beta of 0.98. The stock has a 50 day simple moving average of C$90.94 and a 200-day simple moving average of C$90.55.

Premium Brands (TSE:PBH) last released its earnings results on Wednesday, November 6th. The company reported C$1.11 EPS for the quarter, missing analysts’ consensus estimates of C$1.36 by C($0.25). Premium Brands had a net margin of 1.78% and a return on equity of 6.43%. During the same period last year, the company posted $1.27 earnings per share. On average, equities analysts forecast that Premium Brands will post 6.039823 EPS for the current year.

Premium Brands Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a dividend yield of 4.44%. The ex-dividend date is Tuesday, December 31st. Premium Brands’s dividend payout ratio is presently 133.86%.

Insider Buying and Selling

In other Premium Brands news, Senior Officer William Dion Kalutycz sold 7,000 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of C$86.30, for a total value of C$604,100.00. In other news, Senior Officer William Dion Kalutycz sold 7,000 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of C$86.30, for a total transaction of C$604,100.00. Also, Director Johnny Ciampi bought 3,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The stock was bought at an average cost of C$77.02 per share, for a total transaction of C$269,570.00. 2.01% of the stock is owned by company insiders.

About Premium Brands

Premium Brands Holdings Corporation, through its subsidiaries, manufactures and distributes food products primarily in Canada and the United States. It operates in two segments, Specialty Foods and Premium Food Distribution. The company provides processed meat, deli products, meat snacks, beef jerky and halal, sandwiches, pastries, specialty and gourmet products, entrees, panini, wraps, subs, hamburgers, burgers, salads and kettle products, muffins, breads, pastas, pizza, and baking and sushi products.