Redwood Investments LLC purchased a new stake in shares of Petmed Express Inc (NASDAQ:PETS) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 321,562 shares of the company’s stock, valued at approximately $13,425,000. Redwood Investments LLC owned about 1.56% of Petmed Express at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elkfork Partners LLC bought a new stake in shares of Petmed Express during the fourth quarter valued at approximately $100,000. LS Investment Advisors LLC grew its stake in shares of Petmed Express by 283.5% during the fourth quarter. LS Investment Advisors LLC now owns 2,861 shares of the company’s stock valued at $130,000 after purchasing an additional 2,115 shares during the last quarter. OppenheimerFunds Inc. bought a new stake in shares of Petmed Express during the fourth quarter valued at approximately $202,000. London Co. of Virginia bought a new stake in shares of Petmed Express during the fourth quarter valued at approximately $217,000. Finally, Caxton Associates LP bought a new stake in shares of Petmed Express during the fourth quarter valued at approximately $231,000. 96.97% of the stock is currently owned by institutional investors and hedge funds.
Several analysts have recently commented on the stock. ValuEngine cut shares of Petmed Express from a “buy” rating to a “hold” rating in a research note on Friday, February 23rd. BidaskClub raised shares of Petmed Express from a “sell” rating to a “hold” rating in a research note on Friday, May 25th. CL King started coverage on shares of Petmed Express in a research note on Friday, June 15th. They issued a “neutral” rating on the stock. Zacks Investment Research cut shares of Petmed Express from a “buy” rating to a “hold” rating in a research note on Tuesday, May 8th. Finally, Craig Hallum reduced their price objective on shares of Petmed Express to $38.00 and set a “hold” rating on the stock in a research note on Tuesday, May 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $40.00.
In other Petmed Express news, Director Frank J. Formica sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $41.78, for a total value of $208,900.00. Following the transaction, the director now directly owns 48,500 shares of the company’s stock, valued at $2,026,330. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.70% of the stock is currently owned by company insiders.
Petmed Express traded down $0.35, reaching $44.40, during midday trading on Wednesday, Marketbeat.com reports. The company’s stock had a trading volume of 4,618 shares, compared to its average volume of 508,883. Petmed Express Inc has a 52 week low of $31.81 and a 52 week high of $57.80. The stock has a market cap of $924.14 million, a PE ratio of 24.59, a PEG ratio of 1.97 and a beta of 1.03.
Petmed Express (NASDAQ:PETS) last announced its quarterly earnings data on Monday, May 7th. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. Petmed Express had a net margin of 13.62% and a return on equity of 34.76%. The firm had revenue of $67.30 million for the quarter, compared to analysts’ expectations of $68.43 million. During the same period last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. analysts forecast that Petmed Express Inc will post 2.28 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 25th. Shareholders of record on Friday, May 18th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 17th. This represents a $1.00 dividend on an annualized basis and a yield of 2.25%. Petmed Express’s payout ratio is presently 54.95%.
About Petmed Express
PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and supplies for dogs and cats to retail customers. It provides non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, thyroid, diabetes, pain medications, antibiotics, and other specialty medications, as well as generic substitutes.
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