Municipal Employees Retirement System of Michigan bought a new position in shares of Petmed Express Inc (NASDAQ:PETS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,980 shares of the company’s stock, valued at approximately $139,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Great West Life Assurance Co. Can increased its stake in Petmed Express by 2.0% in the fourth quarter. Great West Life Assurance Co. Can now owns 26,411 shares of the company’s stock valued at $566,000 after purchasing an additional 508 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Petmed Express by 688.3% in the third quarter. JPMorgan Chase & Co. now owns 58,130 shares of the company’s stock worth $1,919,000 after buying an additional 50,756 shares during the period. Canada Pension Plan Investment Board boosted its position in shares of Petmed Express by 46.3% in the fourth quarter. Canada Pension Plan Investment Board now owns 135,200 shares of the company’s stock worth $3,144,000 after buying an additional 42,800 shares during the period. Morgan Stanley boosted its position in shares of Petmed Express by 110.1% in the third quarter. Morgan Stanley now owns 312,416 shares of the company’s stock worth $10,313,000 after buying an additional 163,691 shares during the period. Finally, Oregon Public Employees Retirement Fund purchased a new stake in shares of Petmed Express in the fourth quarter worth about $183,000. Institutional investors own 95.04% of the company’s stock.
A number of research analysts recently commented on PETS shares. BidaskClub downgraded Petmed Express from a “hold” rating to a “sell” rating in a report on Wednesday, March 6th. ValuEngine cut Petmed Express from a “hold” rating to a “sell” rating in a research note on Monday, February 4th. Finally, Craig Hallum cut their price objective on Petmed Express from $25.00 to $18.00 and set a “sell” rating on the stock in a research note on Wednesday, January 23rd. Three investment analysts have rated the stock with a sell rating and two have given a hold rating to the company. The company has a consensus rating of “Sell” and an average target price of $18.00.
Petmed Express (NASDAQ:PETS) last posted its earnings results on Monday, May 6th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.14). The business had revenue of $64.57 million during the quarter, compared to analyst estimates of $69.06 million. Petmed Express had a net margin of 13.32% and a return on equity of 28.96%. The firm’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 17th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date is Thursday, May 16th.
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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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