Analysts Set PetMed Express, Inc. (PETS) Target Price at $42.80
PetMed Express, Inc. (NASDAQ:PETS) has received a consensus recommendation of “Hold” from the eight brokerages that are currently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $42.80.
Several equities research analysts have recently commented on the stock. ValuEngine cut shares of PetMed Express from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Credit Suisse Group reaffirmed an “underperform” rating and issued a $19.00 target price on shares of PetMed Express in a research report on Monday, October 2nd. BidaskClub cut shares of PetMed Express from a “strong-buy” rating to a “buy” rating in a research report on Friday, January 19th. Northcoast Research set a $58.00 target price on shares of PetMed Express and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Finally, Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a research report on Friday, October 27th.
PetMed Express (NASDAQ PETS) traded up $1.77 during trading hours on Friday, hitting $47.80. 803,254 shares of the stock traded hands, compared to its average volume of 997,480. PetMed Express has a 12-month low of $19.21 and a 12-month high of $57.80. The stock has a market cap of $957.67, a PE ratio of 28.28, a price-to-earnings-growth ratio of 2.73 and a beta of 1.12.
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 16th. Investors of record on Monday, February 5th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.09%. This is a positive change from PetMed Express’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 2nd. PetMed Express’s dividend payout ratio (DPR) is presently 47.34%.
In related news, Director Gian Fulgoni sold 20,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $44.38, for a total value of $887,600.00. Following the completion of the transaction, the director now directly owns 55,900 shares in the company, valued at approximately $2,480,842. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Menderes Akdag sold 10,000 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $57.00, for a total transaction of $570,000.00. Following the completion of the transaction, the chief executive officer now owns 470,000 shares of the company’s stock, valued at $26,790,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 60,000 shares of company stock valued at $2,987,600. 4.00% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. increased its stake in PetMed Express by 1.0% during the 2nd quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock valued at $110,000 after purchasing an additional 27 shares in the last quarter. Advisor Group Inc. increased its stake in PetMed Express by 0.7% during the 2nd quarter. Advisor Group Inc. now owns 24,844 shares of the company’s stock valued at $1,009,000 after purchasing an additional 179 shares in the last quarter. QS Investors LLC increased its stake in PetMed Express by 4.0% during the 2nd quarter. QS Investors LLC now owns 9,324 shares of the company’s stock valued at $379,000 after purchasing an additional 356 shares in the last quarter. Thrivent Financial For Lutherans increased its stake in PetMed Express by 7.9% during the 2nd quarter. Thrivent Financial For Lutherans now owns 12,440 shares of the company’s stock valued at $505,000 after purchasing an additional 910 shares in the last quarter. Finally, Cardinal Capital Management increased its stake in PetMed Express by 11.6% during the 3rd quarter. Cardinal Capital Management now owns 12,553 shares of the company’s stock valued at $416,000 after purchasing an additional 1,309 shares in the last quarter. Institutional investors and hedge funds own 99.24% of the company’s stock.
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About PetMed Express
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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