Allianz Asset Management GmbH increased its stake in shares of Petmed Express Inc (NASDAQ:PETS) by 276.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 288,822 shares of the company’s stock after purchasing an additional 212,094 shares during the quarter. Allianz Asset Management GmbH’s holdings in Petmed Express were worth $13,141,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in PETS. Voya Investment Management LLC acquired a new position in Petmed Express during the 2nd quarter worth approximately $373,000. Royal Bank of Canada increased its position in Petmed Express by 86.5% during the 2nd quarter. Royal Bank of Canada now owns 8,337 shares of the company’s stock worth $338,000 after purchasing an additional 3,867 shares in the last quarter. Nationwide Fund Advisors increased its position in Petmed Express by 179.5% during the 3rd quarter. Nationwide Fund Advisors now owns 32,043 shares of the company’s stock worth $1,062,000 after purchasing an additional 20,580 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Petmed Express during the 3rd quarter worth approximately $353,000. Finally, State Board of Administration of Florida Retirement System increased its position in Petmed Express by 99.8% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 9,926 shares of the company’s stock worth $329,000 after purchasing an additional 4,957 shares in the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.
In other Petmed Express news, Director Ronald J. Korn sold 5,000 shares of the business’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 transaction of $241,900.00. Following the sale, the director now directly owns 68,833 shares of the company’s stock, valued at approximately $3,330,140.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gian Fulgoni sold 20,000 shares of the business’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 sale, the director now directly owns 55,900 shares in the company, valued at $2,480,842. The disclosure for this sale can be found here. Insiders have sold a total of 65,000 shares of company stock worth $3,229,500 over the last three months. Insiders own 4.00% of the company’s stock.
Petmed Express (NASDAQ:PETS) last posted its earnings results on Monday, January 22nd. The company reported $0.44 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 analyst estimates of $56.76 million. During the same period in the previous year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up 13.6% compared to the same quarter last year. equities analysts anticipate that Petmed Express Inc will post 1.77 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Monday, February 5th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.14%. This is a positive change from Petmed Express’s previous quarterly dividend of $0.20. The ex-dividend date was Friday, February 2nd. Petmed Express’s payout ratio is presently 59.17%.
A number of research firms recently issued reports on PETS. ValuEngine cut shares of Petmed Express from a “buy” rating to a “hold” rating in a research report on Friday, February 23rd. Northcoast Research set a $58.00 price objective on shares of Petmed Express and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, BidaskClub cut shares of Petmed Express from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $42.80.
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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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