PetMed Express, Inc. (PETS) Position Boosted by Municipal Employees Retirement System of Michigan

Municipal Employees Retirement System of Michigan raised its stake in shares of PetMed Express, Inc. (NASDAQ:PETS) by 200.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,970 shares of the company’s stock after buying an additional 9,320 shares during the period. Municipal Employees Retirement System of Michigan owned 0.07% of PetMed Express worth $568,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Westside Investment Management Inc. raised its position in shares of PetMed Express by 15.8% in the first quarter. Westside Investment Management Inc. now owns 5,502 shares of the company’s stock valued at $114,000 after buying an additional 752 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of PetMed Express by 76.7% in the second quarter. State of Alaska Department of Revenue now owns 4,028 shares of the company’s stock valued at $163,000 after buying an additional 1,748 shares during the last quarter. Group One Trading L.P. acquired a new position in shares of PetMed Express during the first quarter valued at about $174,000. Arizona State Retirement System raised its position in shares of PetMed Express by 0.9% in the first quarter. Arizona State Retirement System now owns 10,667 shares of the company’s stock valued at $215,000 after buying an additional 100 shares during the last quarter. Finally, Thrivent Financial For Lutherans raised its position in shares of PetMed Express by 4.1% in the first quarter. Thrivent Financial For Lutherans now owns 11,530 shares of the company’s stock valued at $232,000 after buying an additional 450 shares during the last quarter. Institutional investors own 79.12% of the company’s stock.

Shares of PetMed Express, Inc. (NASDAQ:PETS) opened at 44.29 on Friday. PetMed Express, Inc. has a 12-month low of $18.90 and a 12-month high of $50.90. The firm has a market cap of $898.73 million, a P/E ratio of 34.07 and a beta of 0.99. The company’s 50 day moving average price is $44.40 and its 200 day moving average price is $31.08.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings data on Monday, July 24th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.38 by $0.07. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The business had revenue of $79.66 million during the quarter, compared to analyst estimates of $77.32 million. During the same period last year, the business posted $0.32 earnings per share. PetMed Express’s quarterly revenue was up 9.9% compared to the same quarter last year. Equities research analysts forecast that PetMed Express, Inc. will post $1.44 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were issued a $0.20 dividend. The ex-dividend date of this dividend was Thursday, August 3rd. This represents a $0.80 annualized dividend and a yield of 1.81%. PetMed Express’s dividend payout ratio (DPR) is presently 61.54%.

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Several equities analysts have recently issued reports on the company. Northcoast Research upgraded PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 price target on the stock in a research note on Monday, July 24th. Zacks Investment Research upgraded PetMed Express from a “hold” rating to a “strong-buy” rating and set a $38.00 price target on the stock in a research note on Wednesday, May 10th. Noble Financial reiterated a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. Finally, Craig Hallum lowered PetMed Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th.

In other PetMed Express news, Director Ronald J. Korn sold 5,000 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $48.18, for a total value of $240,900.00. Following the completion of the sale, the director now directly owns 67,333 shares in the company, valued at $3,244,103.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert C. Schweitzer sold 2,500 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.18, for a total transaction of $122,950.00. Following the completion of the sale, 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. Insiders sold 19,333 shares of company stock valued at $949,730 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

PetMed Express Company Profile

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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