Alps Advisors Inc. lifted its stake in Petmed Express Inc (NASDAQ:PETS) by 19.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 12,289 shares of the company’s stock after buying an additional 2,007 shares during the period. Alps Advisors Inc. owned about 0.06% of Petmed Express worth $559,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PETS. Weatherly Asset Management L. P. bought a new stake in shares of Petmed Express in the second quarter valued at about $205,000. Piedmont Investment Advisors LLC bought a new stake in shares of Petmed Express in the second quarter valued at about $211,000. LPL Financial LLC bought a new stake in shares of Petmed Express in the fourth quarter valued at about $238,000. Xact Kapitalforvaltning AB bought a new stake in shares of Petmed Express in the second quarter valued at about $242,000. Finally, Hartford Investment Management Co. bought a new stake in shares of Petmed Express in the second quarter valued at about $317,000. Institutional investors and hedge funds own 96.06% of the company’s stock.
In other Petmed Express news, Director Frank J. Formica sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $41.78, for a total transaction of $208,900.00. Following the completion of the transaction, the director now owns 48,500 shares in the company, valued at $2,026,330. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.
Shares of PETS opened at $38.48 on Tuesday. The stock has a market cap of $779.02 million, a price-to-earnings ratio of 21.14, a price-to-earnings-growth ratio of 1.65 and a beta of 0.63. Petmed Express Inc has a 12 month low of $31.81 and a 12 month high of $57.80.
Petmed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, July 23rd. The company reported $0.62 EPS for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.01). The business had revenue of $87.39 million for the quarter, compared to the consensus estimate of $85.72 million. Petmed Express had a return on equity of 35.77% and a net margin of 14.42%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.45 EPS. equities analysts expect that Petmed Express Inc will post 2.28 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 10th. Shareholders of record on Friday, August 3rd were paid a dividend of $0.27 per share. This is a boost from Petmed Express’s previous quarterly dividend of $0.25. The ex-dividend date was Thursday, August 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.81%. Petmed Express’s dividend payout ratio (DPR) is currently 59.34%.
Several research firms recently weighed in on PETS. CL King began coverage on shares of Petmed Express in a research note on Friday, June 15th. They issued a “neutral” rating for the company. BidaskClub cut shares of Petmed Express from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 11th. ValuEngine upgraded shares of Petmed Express from a “strong sell” rating to a “sell” rating in a research note on Monday. Zacks Investment Research cut shares of Petmed Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. Finally, Craig Hallum cut their price target on shares of Petmed Express to $38.00 and set a “hold” rating for the company in a research note on Tuesday, May 8th. Three analysts have rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $38.80.
About Petmed Express
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: Diversification
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