Premium Brands (TSE:PBH) Shares Pass Below Two Hundred Day Moving Average of $92.80

Premium Brands Holdings Co. (TSE:PBH) crossed 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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PBH. CIBC decreased their price objective on shares of Premium Brands from C$102.00 to C$97.00 and set a “neutral” rating for the company in a report on Monday, March 18th. Pi Financial reiterated a “buy” rating and issued a C$111.00 price target on shares of Premium Brands in a report on Thursday, December 7th. Royal Bank of Canada reduced their price target on shares of Premium Brands from C$103.00 to C$99.00 and set a “sector perform” rating for the company in a report on Monday, March 18th. 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. Finally, Desjardins reduced their price target on shares of Premium Brands from C$110.00 to C$105.00 and set a “buy” rating for the company in a report on Monday, March 18th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Premium Brands presently has a consensus rating of “Moderate Buy” and a consensus target price of C$111.50.

Premium Brands Price Performance

The company has a quick ratio of 1.16, a current ratio of 2.08 and a debt-to-equity ratio of 149.12. The company’s 50 day moving average is C$91.00 and its 200 day moving average is C$92.80. The firm has a market capitalization of C$3.94 billion, a price-to-earnings ratio of 42.04, a P/E/G ratio of 1.10 and a beta of 1.03.

Premium Brands Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be paid a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 3.83%. This is an increase from Premium Brands’s previous quarterly dividend of $0.77. The ex-dividend date of this dividend is Wednesday, March 27th. Premium Brands’s dividend payout ratio is presently 161.14%.

Premium Brands Company Profile

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.