Smith Asset Management Group LP trimmed its stake in shares of Petmed Express Inc (NASDAQ:PETS) by 21.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,829 shares of the company’s stock after selling 14,110 shares during the period. Smith Asset Management Group LP’s holdings in Petmed Express were worth $1,711,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently bought and sold shares of PETS. Public Employees Retirement Association of Colorado grew its holdings in Petmed Express by 265.5% during the third quarter. Public Employees Retirement Association of Colorado now owns 3,922 shares of the company’s stock worth $129,000 after acquiring an additional 2,849 shares during the period. Itau Unibanco Holding S.A. acquired a new stake in Petmed Express during the second quarter worth about $154,000. OppenheimerFunds Inc. acquired a new stake in Petmed Express during the second quarter worth about $205,000. Weatherly Asset Management L. P. acquired a new stake in Petmed Express during the second quarter worth about $205,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in Petmed Express during the second quarter worth about $211,000. 92.00% of the stock is currently owned by hedge funds and other institutional investors.
Several analysts recently commented on the company. BidaskClub raised Petmed Express from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 18th. ValuEngine raised Petmed Express from a “strong sell” rating to a “sell” rating in a report on Monday, July 16th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $42.67.
Petmed Express (NASDAQ:PETS) last issued its quarterly earnings results on Monday, October 22nd. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.93 million. Petmed Express had a return on equity of 35.53% and a net margin of 14.88%. Petmed Express’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.43 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be given a dividend of $0.27 per share. The ex-dividend date is Friday, November 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 3.63%. Petmed Express’s dividend payout ratio is currently 59.34%.
In other Petmed Express news, Director Robert C. Schweitzer sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $37.00, for a total transaction of $277,500.00. Following the transaction, the director now owns 88,334 shares in the company, valued at $3,268,358. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 3.70% of the company’s stock.
About Petmed Express
PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. It markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. The company offers non-prescription medications and supplies, including flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, such as heartworm preventative, flea and tick preventative, arthritis, thyroid, diabetes, pain, heart/blood pressure, and other specialty medications, as well as generic substitutes.
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