Piedmont Investment Advisors LLC bought a new position in shares of Petmed Express Inc (NASDAQ:PETS) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 4,790 shares of the company’s stock, valued at approximately $211,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in shares of Petmed Express by 6.8% during the fourth quarter. Geode Capital Management LLC now owns 186,598 shares of the company’s stock worth $8,490,000 after purchasing an additional 11,839 shares during the last quarter. Raymond James & Associates purchased a new position in shares of Petmed Express during the fourth quarter worth about $895,000. LPL Financial LLC purchased a new position in shares of Petmed Express during the fourth quarter worth about $238,000. MetLife Investment Advisors LLC purchased a new position in shares of Petmed Express during the fourth quarter worth about $429,000. Finally, Redwood Investments LLC purchased a new position in shares of Petmed Express during the first quarter worth about $13,425,000. Institutional investors and hedge funds own 96.72% of the company’s stock.
NASDAQ PETS opened at $37.99 on Friday. Petmed Express Inc has a 52-week low of $31.81 and a 52-week high of $57.80. The stock has a market cap of $783.16 million, a P/E ratio of 19.02, a P/E/G ratio of 1.66 and a beta of 0.63.
The business also recently declared a quarterly dividend, which will be paid on Friday, August 10th. Investors of record on Friday, August 3rd will be issued a dividend of $0.27 per share. The ex-dividend date is Thursday, August 2nd. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.84%. This is a positive change from Petmed Express’s previous quarterly dividend of $0.25. Petmed Express’s dividend payout ratio (DPR) is currently 59.34%.
In related news, Director Frank J. Formica sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, June 12th. The stock was sold at an average price of $41.78, for a total transaction of $208,900.00. Following the transaction, the director now owns 48,500 shares of the company’s stock, valued at $2,026,330. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 3.70% of the company’s stock.
Several equities analysts have issued reports on the company. CL King assumed coverage on Petmed Express in a report on Friday, June 15th. They set a “neutral” rating on the stock. BidaskClub lowered Petmed Express from a “strong-buy” rating to a “buy” rating in a report on Wednesday, July 11th. Zacks Investment Research lowered Petmed Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 10th. ValuEngine lowered Petmed Express from a “buy” rating to a “hold” rating in a report on Tuesday, May 8th. Finally, Craig Hallum dropped their price objective on Petmed Express to $38.00 and set a “hold” rating on the stock in a report on Tuesday, May 8th. Three analysts have rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $38.80.
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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