ValuEngine upgraded shares of Petmed Express (NASDAQ:PETS) from a hold rating to a buy rating in a report issued on Wednesday morning.
A number of other equities research analysts have also recently weighed in on the company. 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. BidaskClub raised Petmed Express from a buy rating to a strong-buy rating in a report on Saturday, December 9th. Noble Financial reaffirmed a hold rating on shares of Petmed Express in a report on Friday, October 27th. Finally, Northcoast Research set a $58.00 price target on Petmed Express and gave the company a buy rating in a report on Wednesday, January 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. Petmed Express currently has a consensus rating of Hold and a consensus target price of $42.80.
Shares of Petmed Express (NASDAQ:PETS) opened at $42.87 on Wednesday. Petmed Express has a twelve month low of $19.21 and a twelve month high of $57.80. The firm has a market capitalization of $875.34, a price-to-earnings ratio of 25.37, a P/E/G ratio of 2.50 and a beta of 0.95.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 16th. Shareholders of record on Monday, February 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.33%. This is a positive change from Petmed Express’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 2nd. Petmed Express’s dividend payout ratio (DPR) is presently 59.17%.
In other Petmed Express news, CEO Menderes Akdag sold 30,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $51.00, for a total value of $1,530,000.00. Following the transaction, the chief executive officer now directly owns 490,000 shares in the company, valued at approximately $24,990,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald J. Korn sold 5,000 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $48.38, for a total value of $241,900.00. Following the completion of the transaction, the director now owns 68,833 shares in the company, valued at $3,330,140.54. The disclosure for this sale can be found here. Insiders sold a total of 65,000 shares of company stock worth $3,229,500 over the last quarter. Corporate insiders own 4.00% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in PETS. Sei Investments Co. boosted its position in Petmed Express by 50,142.9% in the 3rd quarter. Sei Investments Co. now owns 3,517 shares of the company’s stock valued at $117,000 after buying an additional 3,510 shares during the last quarter. LS Investment Advisors LLC boosted its position in Petmed Express by 283.5% in the 4th quarter. LS Investment Advisors LLC now owns 2,861 shares of the company’s stock valued at $130,000 after buying an additional 2,115 shares during the last quarter. Sterling Investment Advisors Ltd. boosted its position in shares of Petmed Express by 118.5% in the 4th quarter. Sterling Investment Advisors Ltd. now owns 2,950 shares of the company’s stock worth $134,000 after purchasing an additional 1,600 shares during the last quarter. Thompson Siegel & Walmsley LLC bought a new position in shares of Petmed Express in the 3rd quarter worth $149,000. Finally, CenterStar Asset Management LLC bought a new position in shares of Petmed Express in the 4th quarter worth $169,000. Hedge funds and other institutional investors own 97.81% of the company’s stock.
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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