Premium Brands (TSE:PBH) Stock Price Crosses Below 200-Day Moving Average of $92.80

Shares of Premium Brands Holdings Co. (TSE:PBH) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of C$92.80 and traded as low as C$87.34. Premium Brands shares last traded at C$88.70, with a volume of 153,711 shares.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PBH shares. BMO Capital Markets reduced their price target on shares of Premium Brands from C$117.00 to C$115.00 and set an “outperform” rating for the company in a report on Monday, March 18th. CIBC reduced their target price on shares of Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating for the company in a research note on Monday, March 18th. Pi Financial restated a “buy” rating and set a C$111.00 price target on shares of Premium Brands in a research note on Thursday, December 7th. Stifel Nicolaus reduced their price objective on Premium Brands from C$108.00 to C$104.00 and set a “buy” rating for the company in a research report on Monday, March 18th. Finally, TD Securities lowered their price objective on Premium Brands from C$130.00 to C$120.00 and set a “buy” rating on the stock in a research report on Monday, March 18th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of C$111.50.

Premium Brands Price Performance

The company has a 50-day moving average of C$90.90 and a 200 day moving average of C$92.77. The company has a debt-to-equity ratio of 149.12, a quick ratio of 1.16 and a current ratio of 2.08. The firm has a market cap of C$3.93 billion, a P/E ratio of 41.94, a P/E/G ratio of 1.10 and a beta of 1.03.

Premium Brands Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be issued a dividend of $0.85 per share. The ex-dividend date is Wednesday, March 27th. This is a boost from Premium Brands’s previous quarterly dividend of $0.77. This represents a $3.40 dividend on an annualized basis and a dividend yield of 3.84%. Premium Brands’s dividend payout ratio (DPR) is presently 161.14%.

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, and baking and sushi products.