PetMed Express, Inc. (NASDAQ:PETS) Posts Earnings Results, Beats Estimates By $0.07 EPS

PetMed Express, Inc. (NASDAQ:PETS) released its earnings results on Monday, July 24th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.07, MarketWatch Earnings reports. The firm had revenue of $79.66 million during the quarter, compared to analyst estimates of $77.32 million. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.32 EPS.

Shares of PetMed Express (NASDAQ PETS) opened at 47.76 on Friday. The stock’s 50 day moving average is $43.59 and its 200 day moving average is $30.19. PetMed Express has a 1-year low of $18.90 and a 1-year high of $50.90. The company has a market capitalization of $969.15 million, a PE ratio of 36.74 and a beta of 0.99.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 18th. Stockholders of record on Monday, August 7th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $0.80 annualized dividend and a dividend yield of 1.68%. PetMed Express’s dividend payout ratio (DPR) is currently 61.54%.

In related news, Director Ronald J. Korn sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $48.18, for a total transaction of $240,900.00. Following the completion of the transaction, the director now directly owns 67,333 shares in the company, valued at approximately $3,244,103.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Robert C. Schweitzer sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $49.18, for a total value of $122,950.00. Following the transaction, the director now owns 88,834 shares of the company’s stock, valued at $4,368,856.12. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,333 shares of company stock valued at $1,126,330. Corporate insiders own 4.00% of the company’s stock.

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of PetMed Express during the second quarter valued at about $18,691,000. Oaktop Capital Management II L.P. bought a new stake in PetMed Express during the second quarter valued at $15,171,000. Vanguard Group Inc. raised its stake in PetMed Express by 21.0% in the second quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock valued at $52,810,000 after buying an additional 225,474 shares during the last quarter. Renaissance Technologies LLC raised its stake in PetMed Express by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,786,315 shares of the company’s stock valued at $35,976,000 after buying an additional 188,615 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in PetMed Express by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 794,669 shares of the company’s stock valued at $16,005,000 after buying an additional 153,709 shares during the last quarter. 78.36% of the stock is currently owned by institutional investors and hedge funds.

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PETS has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of PetMed Express from a “hold” rating to a “strong-buy” rating and set a $38.00 price objective for the company in a research report on Wednesday, May 10th. Craig Hallum cut shares of PetMed Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Northcoast Research raised shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Monday, July 24th. Finally, Noble Financial reissued a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $35.00.

About PetMed Express

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.

Earnings History for PetMed Express (NASDAQ:PETS)

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