PetMed Express, Inc. (NASDAQ:PETS) Position Raised by State of Alaska Department of Revenue
State of Alaska Department of Revenue increased its stake in shares of PetMed Express, Inc. (NASDAQ:PETS) by 76.7% during the second quarter, Holdings Channel reports. The firm owned 4,028 shares of the company’s stock after buying an additional 1,748 shares during the period. State of Alaska Department of Revenue’s holdings in PetMed Express were worth $163,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC boosted its position in shares of PetMed Express by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,786,315 shares of the company’s stock valued at $35,976,000 after buying an additional 188,615 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of PetMed Express by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 794,669 shares of the company’s stock valued at $16,005,000 after buying an additional 153,709 shares during the period. Citadel Advisors LLC boosted its position in shares of PetMed Express by 89.8% in the first quarter. Citadel Advisors LLC now owns 153,594 shares of the company’s stock valued at $3,093,000 after buying an additional 72,649 shares during the period. Oxford Asset Management bought a new position in shares of PetMed Express during the first quarter valued at $1,097,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in shares of PetMed Express during the first quarter valued at $969,000. Institutional investors and hedge funds own 78.36% of the company’s stock.
PetMed Express, Inc. (NASDAQ PETS) traded up 2.23% during midday trading on Tuesday, hitting $49.00. The stock had a trading volume of 128,076 shares. The firm has a market cap of $994.31 million, a price-to-earnings ratio of 37.69 and a beta of 0.99. The firm has a 50 day moving average of $41.47 and a 200 day moving average of $28.88. PetMed Express, Inc. has a 52 week low of $18.90 and a 52 week high of $50.90.
PetMed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, July 24th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. The firm had revenue of $79.66 million for the quarter, compared to the consensus estimate of $77.32 million. PetMed Express had a return on equity of 28.67% and a net margin of 10.34%. The company’s quarterly revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.32 earnings per share. Equities research analysts predict that PetMed Express, Inc. will post $1.44 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, August 3rd. PetMed Express’s dividend payout ratio is 61.54%.
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PETS has been the topic of several recent analyst reports. Zacks Investment Research upgraded PetMed Express from a “sell” rating to a “hold” rating in a research note on Wednesday, April 12th. Craig Hallum cut PetMed Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Northcoast Research upgraded PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Monday, July 24th. Finally, Noble Financial reiterated a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $35.00.
In other PetMed Express news, Director Frank J. Formica sold 5,000 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $35.32, for a total value of $176,600.00. Following the transaction, the director now owns 46,000 shares of the company’s stock, valued at $1,624,720. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Bruce S. Rosenbloom sold 6,833 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.18, for a total value of $342,879.94. Following the completion of the transaction, the chief financial officer now directly owns 18,534 shares in the company, valued at approximately $930,036.12. The disclosure for this sale can be found here. In the last three months, insiders sold 59,333 shares of company stock worth $2,254,030. 4.00% of the stock is owned by corporate 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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