Copeland Capital Management LLC lessened its holdings in shares of Petmed Express Inc (NASDAQ:PETS) by 13.3% in the third quarter, Holdings Channel reports. The institutional investor owned 336,540 shares of the company’s stock after selling 51,705 shares during the quarter. Copeland Capital Management LLC’s holdings in Petmed Express were worth $11,109,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also made changes to their positions in the stock. BlackRock Inc. grew its position in shares of Petmed Express by 9.8% during the 2nd quarter. BlackRock Inc. now owns 2,917,663 shares of the company’s stock valued at $128,523,000 after buying an additional 260,789 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Petmed Express by 1.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,652,200 shares of the company’s stock valued at $72,779,000 after buying an additional 19,200 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in shares of Petmed Express during the 2nd quarter valued at about $22,044,000. Northern Trust Corp grew its position in shares of Petmed Express by 3.6% during the 2nd quarter. Northern Trust Corp now owns 286,004 shares of the company’s stock valued at $12,597,000 after buying an additional 9,925 shares during the last quarter. Finally, Newtyn Management LLC bought a new stake in shares of Petmed Express during the 2nd quarter valued at about $12,114,000. 92.17% of the stock is owned by institutional investors and hedge funds.
In other Petmed Express news, Director Robert C. Schweitzer sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $37.00, for a total value of $277,500.00. Following the completion of the transaction, the director now owns 88,334 shares in the company, valued at approximately $3,268,358. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.70% of the stock is currently owned by corporate insiders.
NASDAQ PETS opened at $28.37 on Monday. Petmed Express Inc has a 52 week low of $27.20 and a 52 week high of $57.80. The stock has a market capitalization of $586.52 million, a price-to-earnings ratio of 15.59 and a beta of 0.84.
Petmed Express (NASDAQ:PETS) last posted its earnings results on Monday, October 22nd. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. Petmed Express had a net margin of 14.88% and a return on equity of 35.53%. The firm had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.93 million. During the same quarter in the prior year, the firm earned $0.43 EPS. Petmed Express’s quarterly revenue was up 7.0% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 16th. Shareholders of record on Monday, November 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, November 2nd. Petmed Express’s dividend payout ratio (DPR) is 59.34%.
PETS has been the subject of a number of recent research reports. BidaskClub downgraded shares of Petmed Express from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, July 25th. Zacks Investment Research downgraded shares of Petmed Express from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. ValuEngine upgraded shares of Petmed Express from a “strong sell” rating to a “sell” rating in a research report on Monday, August 20th. Finally, Craig Hallum restated a “sell” rating and issued a $32.00 target price (down previously from $38.00) on shares of Petmed Express in a research report on Monday, July 9th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.67.
Petmed Express Profile
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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