Pets At Home Dividends - PETS

Pets At Home Dividends - PETS

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Stock Name Stock Symbol Market Stock Type
Pets At Home Group Plc PETS London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
-5.80 -1.26% 454.60 16:35:19
Open Price Low Price High Price Close Price Previous Close
459.20 451.80 465.60 454.60 460.40
more quote information »
Industry Sector

Pets At Home PETS Dividends History

Announcement Date Type Currency Dividend Amount Period Start Period End Ex Date Record Date Payment Date Total Dividend Amount

Top Dividend Posts

spyder: Trading update -> FYE 22 profit above analysts expectations, CEO to step down as a ‘good leaver’. This might leave PETS vulnerable to PE interest?
roguetraderuk: on an ev/sales, pets works out more expensive then zoo, but on any other consideration its cheaper or considerably cheaper such as vs cash profits where pets is at a quarter of the zooplus knockout bid. fwd pe for 22 and 23 is presently 23 and 20 respectively, but you can argue both of these expectations could be pushed lower given pets has a history or beating and raising. the market will be focusing on margins during the current period and what they see going forward given the supply chain issues across most industries.
spyder: —> Chiefbrody The final H&F/EQT bid for Zooplus was for 57x 2020 EBITDA. PETS currently trading at 11.47x EV/EBITDA - almost exactly equivalent to 20% of the Zooplus valuation. PETS is looking very good value at these levels IMO…
chiefbrody: So Zooplus being sold for 3.3B Euros. About 2.75 B quid ish. Pets valued a bit below that currently .2.5B according to this site).Anyone know what kind of sales and profit Zooplus do compared to Pets.
spyder: EQT (owner of IVC) and KKR are both considering rival bids for Zooplus - again, reads across very favourably for PETS.
knowing: (Alliance News) - Pets At Home Group PLC shares could be pushed higher after peer Zooplus AG agreed a EUR2.79 billion takeover, according to Shore Capital. Zooplus, a pet supplies retailer based in Munich, on Friday said it accepted the EUR390-per-share offer from Hellman & Friedman, a San Francisco-based private equity firm. The bid is a 40% premium to Zooplus's closing price on Thursday.
chiefbrody: Liberum upgraded Pets at Home to 'buy' from 'hold' on Thursday, lifting the price target to 510p from 460p, driven by the broker's new, higher forecasts following the company's preliminary results.The broker upped its FY22 pre-tax profit estimate by 7.5% to £126m, which sits slightly above the mid-point of the £120m-130m guided range. It lifted its FY23E pre-tax profit forecast by 13.2% to £144m."We acknowledge the current premium valuation (CY21 PER 24x), yet see this as justifiable for the 13.7% FY20-24E profit before tax compound annual growth rate we now forecast," it said."There is upside risk to this as PETS' multiple self-help levers look set to drive further outperformance versus the UK pet care market's accelerating growth."Liberum said the re-calibration of the Vet Group is now complete with impacts fully annualised meaning greater leverage benefits, higher visibility on profit trajectory and enhanced cash flows to support an already "very strong" balance sheet.
spyder: Really, CVS and PETS should move in tandem as they have identical economic drivers, the very positive news at CVS, currently up 12.5%, should bode well for PETS too. The market can be quite sleepy sometimes, it took a while for the CVS news to sink in, when I posted at 08:33 this morning, CVS were up just 1.25%
chiefbrody: I dont see a massive difference. More peeps shopping at Pets than before (as opposed to say Amazon - I use Pets 100% now 0% Amazon). As long as that trend continues....Then there's the Vet stuff. Lot of new pets this/last year so some growth there to be had.
pstick: Seems like it is being targeted by a short seller. Although for some reason, I can't find the full report on their website. It would be interesting to see the full analysis. They may be onto something, lots of hedge funds have shorted this stock in the recent years. Bonitas is Short Pets At Home (London: PETS) UK Companies House filings revealed that Pets At Home Group Plc (London: PETS) lied about GBP 34 million of undisclosed trading loans hidden from its balance sheet used to support circular payments from PETS Vet Group Joint Ventures (“PETS JVs”) which we believe artificially inflated PETS reported profits. Including undisclosed trading balances, PETS’ actual funding, trading and operating (“FTO”) loan balances owed by PETS JVs were GBP 74 million and GBP 64 million as of FYE’18 and FYE’19, 87% and 51% greater than what PETS reported in its FY’19 Annual Report. Without these loans, PETS JVs would not have been able to pay PETS service fees and rents. The circular payment scheme had a significant impact on PETS’ purported profitability. PETS recognized 50%+ operating margins on PETS JV service fees versus 8% for its retail segment. While accounting for only 6% of PETS revenues, PETS JV service fees accounted for 31% of PETS’ operating profits. We reviewed over 1,800 annual reports for 432 individual PETS JVs between FY’15 and FY’19 available for free online via UK Companies House filings. Most PETS JVs were loss-making and drowning in liabilities. In FY’18, while PETS generated GBP 27 million operating profits from PETS JV service fees, PETS JVs generated aggregate losses of GBP 14 million. PETS JVs revealed aggregate liabilities of GBP 170 million as of FYE’19. Recently PETS actively restructured some PETS JVs via step-up acquisitions and in each instance PETS assumed all PETS JV liabilities. PETS’ restructuring efforts have already cost GBP 40+ million in write-offs and expenses from 55 PETS JV step-up acquisitions as of FYE’19. As PETS JVs sink deeper into debt, we anticipate that PETS will be forced to bail out and write off additional PETS JVs. Below are additional highlights from our review of operating PETS JV annual reports: • 253 (61%) generated aggregate losses of GBP 27 million in FY’18. • 108 (26%) had adminstrative expenses that exceeded revenues in FY’18. • 283 (69%) were balance sheet insolvent with aggregate net liabilities of GBP 100 million as of FYE’19. • 60 (15%) had net liabilities that exceeded GBP 500,000 as of FYE’19 (not including 19 additional PETS JVs that were bought back and written off by PETS in FY’19). PETS charged PETS JVs service fees and rents only afforded with concurrent financial support. If PETS cannot continue to provide such a significant level of financial support to PETS JVs, the scheme collapses. PETS’ FYE’19 balance sheet held GBP 395 million goodwill largely attributable to the future cash flow generating ability of PETS JVs and reported a contingent liability of GBP 11 million, only 17% of what PETS JVs owed third party banks. To us, the evidence is clear that PETS lied to investors about the level of financial support given to PETS JVs which artificially inflated PETS’ reported profitability and understated its liabilities. We believe a restatement of PETS’ financial performance would include adjustments to goodwill, increased recognized exposure to PETS JV bank debt and further write-offs of direct loans to PETS JVs. As investors consider PETS’ hidden liabilities, its low earnings quality from circular payments and inflated carrying balances for certain assets, we think PETS’ stock price could break previous lows with a downside of 75%+.
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P: V: D:20211206 20:47:26