Thornburg Investment Management Inc. Sells 27,693 Shares of PetIQ, Inc. (NASDAQ:PETQ)

Thornburg Investment Management Inc. reduced its position in shares of PetIQ, Inc. (NASDAQ:PETQ) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 663,287 shares of the company’s stock after selling 27,693 shares during the period. Thornburg Investment Management Inc.’s holdings in PetIQ were worth $14,636,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in PetIQ by 4.9% during the first quarter. Vanguard Group Inc. now owns 2,252,842 shares of the company’s stock valued at $41,182,000 after purchasing an additional 105,083 shares during the period. Dimensional Fund Advisors LP lifted its stake in PetIQ by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock valued at $21,461,000 after buying an additional 132,450 shares in the last quarter. Boston Partners lifted its stake in PetIQ by 6.8% in the first quarter. Boston Partners now owns 1,067,677 shares of the company’s stock valued at $19,124,000 after buying an additional 67,797 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in PetIQ by 11.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock valued at $20,467,000 after buying an additional 108,870 shares in the last quarter. Finally, Nepsis Inc. lifted its stake in PetIQ by 0.4% in the second quarter. Nepsis Inc. now owns 901,425 shares of the company’s stock valued at $19,885,000 after buying an additional 3,256 shares in the last quarter. 94.99% of the stock is owned by institutional investors.

PetIQ Trading Down 0.1 %

PETQ stock opened at $30.64 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58. The company’s 50-day simple moving average is $26.31 and its 200 day simple moving average is $21.42. PetIQ, Inc. has a 52 week low of $15.09 and a 52 week high of $30.77. The company has a market capitalization of $911.60 million, a PE ratio of 139.27 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last released its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. The firm had revenue of $328.90 million for the quarter, compared to analysts’ expectations of $330.14 million. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The business’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. As a group, sell-side analysts anticipate that PetIQ, Inc. will post 1.05 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on PETQ shares. William Blair lowered shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Truist Financial lowered shares of PetIQ from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $31.00 in a research report on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, PetIQ presently has a consensus rating of “Moderate Buy” and an average price target of $29.67.

PetIQ Company Profile

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.