JPMorgan Chase & Co. increased its stake in Petmed Express Inc (NASDAQ:PETS) by 213.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 36,499 shares of the company’s stock after buying an additional 24,844 shares during the quarter. JPMorgan Chase & Co. owned 0.18% of Petmed Express worth $1,215,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Petmed Express by 21.0% during the second quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock valued at $52,810,000 after purchasing an additional 225,474 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Petmed Express by 8.3% during the second quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock valued at $34,940,000 after purchasing an additional 65,932 shares during the last quarter. Prudential Financial Inc. lifted its holdings in Petmed Express by 552.8% during the third quarter. Prudential Financial Inc. now owns 824,434 shares of the company’s stock valued at $27,330,000 after purchasing an additional 698,140 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Petmed Express by 13.1% during the second quarter. Bank of New York Mellon Corp now owns 432,057 shares of the company’s stock valued at $17,542,000 after purchasing an additional 49,889 shares during the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in Petmed Express during the third quarter valued at about $9,900,000. 97.81% of the stock is currently owned by institutional investors.
Shares of Petmed Express Inc (NASDAQ PETS) traded down $0.85 during trading on Friday, hitting $43.27. 664,588 shares of the stock were exchanged, compared to its average volume of 810,611. Petmed Express Inc has a 52-week low of $19.21 and a 52-week high of $57.80. The stock has a market capitalization of $869.45, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.61 and a beta of 0.95.
Petmed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, January 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.33 by $0.11. Petmed Express had a net margin of 12.84% and a return on equity of 34.04%. The firm had revenue of $60.10 million for the quarter, compared to the consensus estimate of $56.76 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. analysts expect that Petmed Express Inc will post 1.7 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Monday, February 5th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.31%. This is an increase from Petmed Express’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 2nd. Petmed Express’s dividend payout ratio is presently 47.34%.
Several equities research analysts have commented on the stock. BidaskClub downgraded shares of Petmed Express from a “strong-buy” rating to a “buy” rating in a report on Friday, January 19th. Northcoast Research set a $58.00 price objective on shares of Petmed Express and gave the company a “buy” rating in a report on Wednesday, January 3rd. 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 report on Friday, October 20th. Finally, Noble Financial reaffirmed a “hold” rating on shares of Petmed Express in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. Petmed Express currently has an average rating of “Hold” and a consensus price target of $42.80.
In related news, Director Ronald J. Korn sold 5,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 68,833 shares in the company, valued at $3,330,140.54. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gian Fulgoni sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, December 15th. The stock was sold at an average price of $44.38, for a total transaction of $887,600.00. Following the completion of the transaction, the director now owns 55,900 shares in the company, valued at $2,480,842. The disclosure for this sale can be found here. Over the last three months, insiders sold 65,000 shares of company stock worth $3,229,500. Insiders own 4.00% of the company’s stock.
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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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