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Pets at Home Executes Share Buyback Program

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Pets at Home Executes Share Buyback Program

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Pets at Home ( (GB:PETS) ) has issued an update.

Pets at Home Group Plc has executed a share buyback program, purchasing 70,000 of its ordinary shares through Deutsche Numis. The shares, bought at prices ranging from 243.40 GBp to 246.60 GBp, will be canceled, reducing the total number of shares in issue to 457,111,054. This move is part of the company’s strategy to manage its capital structure and potentially enhance shareholder value by reducing the number of shares outstanding.

The most recent analyst rating on (GB:PETS) stock is a Hold with a £2.60 price target. To see the full list of analyst forecasts on Pets at Home stock, see the GB:PETS Stock Forecast page.

Spark’s Take on GB:PETS Stock

According to Spark, TipRanks’ AI Analyst, GB:PETS is a Neutral.

Pets at Home’s overall stock score is driven by strong financial performance and positive corporate events, highlighting robust cash flow management and strategic share buybacks. However, bearish technical indicators and a need for improvement in net profit margins moderate the score. The valuation suggests potential undervaluation, supported by a high dividend yield.

To see Spark’s full report on GB:PETS stock, click here.

More about Pets at Home

Pets at Home Group Plc operates in the retail industry, primarily focusing on pet care products and services. The company caters to pet owners, providing a range of products including pet food, accessories, and veterinary services.

Average Trading Volume: 898,629

Technical Sentiment Signal: Sell

Current Market Cap: £1.1B

See more insights into PETS stock on TipRanks’ Stock Analysis page.

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