Parkland Co. (TSE:PKI) Plans $0.35 Quarterly Dividend

Parkland Co. (TSE:PKI) announced a quarterly dividend on Wednesday, September 11th, Zacks reports. Investors of record on Friday, September 20th will be paid a dividend of 0.35 per share on Tuesday, October 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date of this dividend is Friday, September 20th.

Parkland Stock Up 0.6 %

PKI opened at C$35.35 on Thursday. The company’s 50-day moving average price is C$36.43 and its two-hundred day moving average price is C$39.31. The company has a quick ratio of 0.73, a current ratio of 1.33 and a debt-to-equity ratio of 206.76. Parkland has a twelve month low of C$34.50 and a twelve month high of C$47.99. The stock has a market cap of C$6.15 billion, a price-to-earnings ratio of 16.60, a PEG ratio of 11.79 and a beta of 1.34.

Parkland (TSE:PKI) last issued its quarterly earnings results on Wednesday, July 31st. The company reported C$0.88 EPS for the quarter, beating analysts’ consensus estimates of C$0.82 by C$0.06. The firm had revenue of C$7.50 billion for the quarter, compared to analysts’ expectations of C$7.92 billion. Parkland had a return on equity of 12.26% and a net margin of 1.23%.

Analysts Set New Price Targets

PKI has been the subject of a number of research reports. CIBC cut their target price on shares of Parkland from C$55.00 to C$54.00 in a research report on Thursday, July 18th. National Bankshares reduced their price objective on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada lowered their target price on shares of Parkland from C$49.00 to C$48.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Parkland from C$54.00 to C$53.00 in a report on Tuesday. Finally, BMO Capital Markets reduced their price target on Parkland from C$52.00 to C$49.00 in a research report on Thursday, August 1st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of C$50.38.

Insiders Place Their Bets

In other Parkland news, Senior Officer Marcel Teunissen acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of C$36.52 per share, with a total value of C$36,520.00. Corporate insiders own 20.51% of the company’s stock.

About Parkland

Parkland Corporation operates food and convenience stores in Canada, the United States, and internationally. The company's Canada segment owns, supplies, and supports a coast-to-coast network of retail gas stations, electronic vehicle charging stations, frozen food retail locations, convenience stores, cardlock sites, bulk fuel, propane, heating oil, lubricants, and other related services to commercial, industrial, and residential customers; transports and distributes fuel through ships, rail, and highway carriers; and stores fuel in terminals and other owned and leased facilities, as well as engages in the low-carbon activities.