State Board of Administration of Florida Retirement System grew its position in shares of PetMed Express, Inc. (NASDAQ:PETS) by 99.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,926 shares of the company’s stock after purchasing an additional 4,957 shares during the period. State Board of Administration of Florida Retirement System’s holdings in PetMed Express were worth $329,000 at the end of the most recent reporting period.
Other institutional investors have also recently modified their holdings of the company. Acrospire Investment Management LLC purchased a new position in shares of PetMed Express during the second quarter valued at about $110,000. Pinebridge Investments L.P. grew its position in shares of PetMed Express by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock valued at $110,000 after purchasing an additional 27 shares in the last quarter. Fred Alger Management Inc. purchased a new position in shares of PetMed Express during the second quarter valued at about $162,000. State of Alaska Department of Revenue grew its position in shares of PetMed Express by 76.7% during the second quarter. State of Alaska Department of Revenue now owns 4,028 shares of the company’s stock valued at $163,000 after purchasing an additional 1,748 shares in the last quarter. Finally, Bayesian Capital Management LP purchased a new position in shares of PetMed Express during the second quarter valued at about $203,000. Hedge funds and other institutional investors own 85.57% of the company’s stock.
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 completion of the transaction, the director now owns 73,833 shares of the company’s stock, valued at approximately $2,626,239.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.00% of the stock is currently owned by company insiders.
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A number of brokerages have recently weighed in on PETS. Noble Financial restated a “hold” rating on shares of PetMed Express in a research report on Wednesday, July 26th. Craig Hallum restated a “hold” rating and set a $40.00 price objective (down previously from $43.00) on shares of PetMed Express in a research report on Monday, August 21st. They noted that the move was a valuation call. BidaskClub lowered PetMed Express from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 22nd. Northcoast Research upgraded 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. Finally, Sidoti raised shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 price target for the company in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $42.00.
PetMed Express, Inc. (NASDAQ:PETS) opened at $39.48 on Tuesday. PetMed Express, Inc. has a 1-year low of $19.21 and a 1-year high of $50.90. The company has a market cap of $796.77, a PE ratio of 25.95, a P/E/G ratio of 2.32 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 EPS for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.13. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $63.41 million. During the same quarter last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. equities analysts predict that PetMed Express, Inc. will post 1.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend was Friday, November 3rd. PetMed Express’s payout ratio is 53.69%.
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.
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