Petmed Express (NASDAQ:PETS) Cut to Neutral at Sidoti

Sidoti lowered shares of Petmed Express (NASDAQ:PETS) from a buy rating to a neutral rating in a report issued on Monday morning, BenzingaRatingsTable reports. Sidoti currently has $31.00 price target on the stock.

A number of other research firms also recently issued reports on PETS. ValuEngine downgraded shares of Petmed Express from a sell rating to a strong sell rating in a research report on Friday, February 21st. BidaskClub upgraded Petmed Express from a buy rating to a strong-buy rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $25.50.

PETS stock opened at $27.05 on Monday. The firm has a 50 day moving average of $26.45 and a 200-day moving average of $21.96. Petmed Express has a 12-month low of $15.00 and a 12-month high of $29.17. The company has a market cap of $560.42 million, a price-to-earnings ratio of 22.23 and a beta of 0.67.

Petmed Express (NASDAQ:PETS) last posted its quarterly earnings results on Tuesday, January 21st. The company reported $0.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.04. Petmed Express had a net margin of 9.28% and a return on equity of 19.91%. The company had revenue of $59.92 million during the quarter, compared to the consensus estimate of $61.31 million. During the same period last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Monday, February 3rd were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Friday, January 31st. This represents a $1.08 annualized dividend and a dividend yield of 3.99%.

In related news, CFO Bruce S. Rosenbloom sold 3,500 shares of Petmed Express stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $28.22, for a total transaction of $98,770.00. Following the completion of the transaction, the chief financial officer now directly owns 45,384 shares in the company, valued at approximately $1,280,736.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. State Street Corp raised its holdings in Petmed Express by 3.6% in the 3rd quarter. State Street Corp now owns 853,315 shares of the company’s stock valued at $15,377,000 after acquiring an additional 29,277 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Petmed Express by 1,619.9% during the 3rd quarter. SG Americas Securities LLC now owns 677,495 shares of the company’s stock valued at $12,208,000 after buying an additional 638,103 shares during the period. Man Group plc grew its stake in shares of Petmed Express by 20.1% during the 4th quarter. Man Group plc now owns 656,359 shares of the company’s stock valued at $15,438,000 after buying an additional 109,790 shares during the period. Personal Capital Advisors Corp grew its stake in shares of Petmed Express by 51.2% during the 4th quarter. Personal Capital Advisors Corp now owns 309,967 shares of the company’s stock valued at $7,290,000 after buying an additional 104,916 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Petmed Express by 2.0% during the 4th quarter. Geode Capital Management LLC now owns 297,317 shares of the company’s stock valued at $6,992,000 after buying an additional 5,964 shares during the period. Hedge funds and other institutional investors own 88.39% of the company’s stock.

Petmed Express Company Profile

PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. It markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. The company offers non-prescription medications and supplies, including flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, such as heartworm preventative, flea and tick preventative, arthritis, thyroid, diabetes, pain, heart/blood pressure, and other specialty medications, as well as generic substitutes.

Further Reading: What does an equal weight rating mean?

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