Alps Advisors Inc. bought a new stake in PetMed Express, Inc. (NASDAQ:PETS) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 12,289 shares of the company’s stock, valued at approximately $407,000. Alps Advisors Inc. owned about 0.06% of PetMed Express as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in shares of PetMed Express by 21.0% in the 2nd quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock worth $52,810,000 after acquiring an additional 225,474 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of PetMed Express by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock worth $34,940,000 after buying an additional 65,932 shares during the period. Prudential Financial Inc. lifted its position in shares of PetMed Express by 552.8% during the 3rd quarter. Prudential Financial Inc. now owns 824,434 shares of the company’s stock worth $27,330,000 after buying an additional 698,140 shares during the period. Acadian Asset Management LLC bought a new position in shares of PetMed Express during the 2nd quarter worth approximately $18,691,000. Finally, Bank of New York Mellon Corp lifted its position in shares of PetMed Express by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 432,057 shares of the company’s stock worth $17,542,000 after buying an additional 49,889 shares during the period. 85.57% of the stock is currently owned by hedge funds and other institutional investors.
Shares of PetMed Express, Inc. (NASDAQ PETS) opened at $39.57 on Wednesday. The company has a market capitalization of $813.46, a price-to-earnings ratio of 26.50, a PEG ratio of 2.37 and a beta of 1.09. PetMed Express, Inc. has a 52 week low of $19.21 and a 52 week high of $50.90.
PetMed Express (NASDAQ:PETS) last released its earnings results on Monday, October 23rd. The company reported $0.43 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.13. PetMed Express had a return on equity of 31.46% and a net margin of 11.58%. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $63.41 million. During the same period last year, the firm earned $0.24 EPS. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. equities research analysts anticipate that PetMed Express, Inc. will post 1.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.02%. PetMed Express’s dividend payout ratio (DPR) is presently 53.69%.
In related news, Director Ronald J. Korn sold 1,000 shares of PetMed Express stock in a transaction on Friday, October 27th. The stock was sold at an average price of $35.57, for a total transaction of $35,570.00. Following the completion of the sale, the director now directly owns 73,833 shares of the company’s stock, valued at $2,626,239.81. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 4.00% of the stock is owned by insiders.
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Several equities analysts recently commented on PETS shares. Sidoti upgraded PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a research report on Thursday, August 24th. BidaskClub cut PetMed Express from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Zacks Investment Research raised PetMed Express from a “sell” rating to a “hold” rating and set a $50.00 price target for the company in a report on Friday, October 20th. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a report on Friday, October 27th. Finally, Craig Hallum reaffirmed a “hold” rating and set a $40.00 price target (down from $43.00) on shares of PetMed Express in a report on Monday, August 21st. They noted that the move was a valuation call. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. PetMed Express has an average rating of “Hold” and an average target price of $42.00.
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.
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