Dynamic Technology Lab Private Ltd Increases Stake in PetMed Express, Inc. (PETS)
Dynamic Technology Lab Private Ltd grew its stake in shares of PetMed Express, Inc. (NASDAQ:PETS) by 116.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,925 shares of the company’s stock after purchasing an additional 11,782 shares during the period. Dynamic Technology Lab Private Ltd owned approximately 0.11% of PetMed Express worth $727,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in PetMed Express by 120.7% during the second quarter. Goldman Sachs Group Inc. now owns 157,963 shares of the company’s stock worth $6,413,000 after acquiring an additional 86,375 shares in the last quarter. Vanguard Group Inc. boosted its stake in PetMed Express by 4.3% during the first quarter. Vanguard Group Inc. now owns 1,075,251 shares of the company’s stock worth $21,656,000 after acquiring an additional 44,560 shares in the last quarter. WBI Investments Inc. bought a new stake in PetMed Express during the second quarter worth about $3,943,000. Engineers Gate Manager LP bought a new stake in PetMed Express during the second quarter worth about $1,939,000. Finally, Dimensional Fund Advisors LP boosted its stake in PetMed Express by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock worth $34,940,000 after acquiring an additional 65,932 shares in the last quarter. 85.57% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently commented on PETS. Craig Hallum reissued a “hold” rating and set a $40.00 price objective (down previously from $43.00) on shares of PetMed Express in a research note on Monday, August 21st. They noted that the move was a valuation call. BidaskClub lowered shares of PetMed Express from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Sidoti raised shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research note on Thursday, August 24th. ValuEngine raised shares of PetMed Express from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, Zacks Investment Research raised shares of PetMed Express from a “sell” rating to a “hold” rating and set a $50.00 price objective on the stock in a research note on Friday, October 20th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $42.00.
In other news, Director Ronald J. Korn sold 1,000 shares of the company’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $35.57, for a total value of $35,570.00. Following the transaction, the director now owns 73,833 shares in the company, valued at $2,626,239.81. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.00% of the company’s stock.
Shares of PetMed Express, Inc. (NASDAQ PETS) opened at $38.68 on Friday. PetMed Express, Inc. has a 52 week low of $19.21 and a 52 week high of $50.90. The company has a market cap of $824.79, a PE ratio of 26.87, a P/E/G ratio of 2.40 and a beta of 1.09.
PetMed Express (NASDAQ:PETS) last issued its earnings results on Monday, October 23rd. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.13. The firm had revenue of $66.70 million for the quarter, compared to the consensus estimate of $63.41 million. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 earnings per share. equities analysts anticipate that PetMed Express, Inc. will post 1.67 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, November 17th. Stockholders of record on Monday, November 6th were paid a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $0.80 annualized dividend and a dividend yield of 2.07%. PetMed Express’s dividend payout ratio is presently 53.69%.
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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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