IFP Advisors Inc boosted its holdings in PetMed Express, Inc. (NASDAQ:PETS) by 269.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 14,742 shares of the company’s stock after purchasing an additional 10,754 shares during the quarter. IFP Advisors Inc owned about 0.07% of PetMed Express worth $489,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its position in PetMed Express by 120.7% in the 2nd quarter. Goldman Sachs Group Inc. now owns 157,963 shares of the company’s stock valued at $6,413,000 after purchasing an additional 86,375 shares during the last quarter. Vanguard Group Inc. raised its position in PetMed Express by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 1,075,251 shares of the company’s stock worth $21,656,000 after buying an additional 44,560 shares during the last quarter. WBI Investments Inc. purchased a new position in PetMed Express during the 2nd quarter worth $3,943,000. Engineers Gate Manager LP purchased a new position in PetMed Express during the 2nd quarter worth $1,939,000. Finally, Prudential Financial Inc. raised its position in PetMed Express by 261.0% during the 2nd quarter. Prudential Financial Inc. now owns 126,294 shares of the company’s stock worth $5,127,000 after buying an additional 91,310 shares during the last quarter. Hedge funds and other institutional investors own 81.30% of the company’s stock.
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A number of brokerages have commented on PETS. Noble Financial restated a “hold” rating on shares of PetMed Express in a research report on Wednesday, July 26th. Northcoast Research upgraded shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 price objective for the company in a research report on Monday, July 24th. Credit Suisse Group restated an “underperform” rating and set a $19.00 price objective on shares of PetMed Express in a research report on Monday, October 2nd. Zacks Investment Research downgraded shares of PetMed Express from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 25th. Finally, ValuEngine downgraded shares of PetMed Express from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $42.00.
PetMed Express, Inc. (NASDAQ:PETS) opened at $36.56 on Monday. The firm has a market cap of $753.29, a PE ratio of 24.54, a PEG ratio of 2.21 and a beta of 1.09.
PetMed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, October 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.13. The business had revenue of $66.70 million during the quarter, compared to the consensus estimate of $63.41 million. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. research analysts predict that PetMed Express, Inc. will post 1.66 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 17th. Investors of record on Monday, November 6th will be paid a $0.20 dividend. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 2.19%. PetMed Express’s payout ratio is 53.69%.
In related news, Director Ronald J. Korn sold 1,000 shares of the stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $35.57, for a total value of $35,570.00. Following the sale, the director now directly owns 73,833 shares of the company’s stock, valued at approximately $2,626,239.81. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 4.00% of the stock is currently owned by corporate insiders.
PetMed Express Company Profile
PetMed Express, Inc (PetMed Express), doing business as 1800PetMeds, is a pet pharmacy. The Company markets prescription and non-prescription pet medications, and other health products for dogs and cats, direct to the consumer. It offers a selection of products for dogs and cats. Its product line contains approximately 3,000 stock keeping units (SKUS) of pet medications, health products and supplies.
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