Alimentation Couche-Tard Secures Average Price Target of C$85.31

Alimentation Couche-Tard Inc. has garnered a consensus recommendation of “Buy” from fifteen research firms monitoring the company, according to data provided by Marketbeat Ratings. Analysts have established an average twelve-month target price of C$85.31 for the convenience store operator. This positive sentiment includes two firms rating the stock as a hold, while eleven analysts issued buy ratings, and two assigned a strong buy rating.

Several financial institutions have recently updated their projections for Alimentation Couche-Tard. On September 4, 2023, Scotiabank raised its target price from C$78.00 to C$84.00, maintaining an “outperform” rating. The Royal Bank of Canada adjusted its price target from C$94.00 to C$91.00 the day before, also giving the company an “outperform” rating.

In further developments, the Goldman Sachs Group upgraded Alimentation Couche-Tard to a “hold” rating on September 12, 2023. Similarly, Jefferies Financial Group reduced its price target from C$90.00 to C$87.00 while maintaining a buy rating on June 27, 2023. Additionally, BMO Capital Markets increased its target from C$75.00 to C$78.00 on September 4, 2023.

Dividend Announcement and Financial Performance

In a separate announcement, Alimentation Couche-Tard declared a quarterly dividend of $0.195 per share, paid on September 25, 2023. This dividend follows an ex-dividend date of September 11, 2023, and reflects an annualized payout of $0.78, resulting in a dividend yield of 1.1%. The company’s dividend payout ratio stands at 20.27%, indicating a balanced approach to returning value to shareholders.

Alimentation Couche-Tard operates a vast network of convenience stores across various regions, including North America, Ireland, Scandinavia, Poland, the Baltics, and Russia. The company primarily earns revenue through the sale of tobacco products, groceries, beverages, fresh food, and quick service restaurant offerings. Additional services include car wash operations, fuel distribution, and various retail products.

Investors and analysts continue to monitor Alimentation Couche-Tard’s performance closely, as the company’s strategic decisions and market positioning reflect broader trends in the retail and convenience store sectors.