ClariVest Asset Management LLC Buys New Position in PetMed Express, Inc. (PETS)
ClariVest Asset Management LLC bought a new stake in shares of PetMed Express, Inc. (NASDAQ:PETS) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 84,007 shares of the company’s stock, valued at approximately $3,411,000.
Several other large investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of PetMed Express during the second quarter valued at $18,691,000. Renaissance Technologies LLC increased its stake in shares of PetMed Express by 11.8% in the first quarter. Renaissance Technologies LLC now owns 1,786,315 shares of the company’s stock valued at $35,976,000 after buying an additional 188,615 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of PetMed Express by 24.0% in the first quarter. Dimensional Fund Advisors LP now owns 794,669 shares of the company’s stock valued at $16,005,000 after buying an additional 153,709 shares in the last quarter. Citadel Advisors LLC increased its stake in shares of PetMed Express by 89.8% in the first quarter. Citadel Advisors LLC now owns 153,594 shares of the company’s stock valued at $3,093,000 after buying an additional 72,649 shares in the last quarter. Finally, Oxford Asset Management purchased a new stake in shares of PetMed Express during the first quarter valued at $1,097,000. 79.12% of the stock is currently owned by institutional investors and hedge funds.
PetMed Express, Inc. (NASDAQ PETS) opened at 46.89 on Wednesday. The stock has a market cap of $951.49 million, a P/E ratio of 36.07 and a beta of 0.99. PetMed Express, Inc. has a 1-year low of $18.90 and a 1-year high of $50.90. The company has a 50-day moving average of $43.98 and a 200 day moving average of $30.70.
PetMed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, July 24th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.07. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The firm had revenue of $79.66 million for the quarter, compared to analysts’ expectations of $77.32 million. During the same quarter in the previous year, the company posted $0.32 EPS. The company’s revenue was up 9.9% compared to the same quarter last year. Analysts predict that PetMed Express, Inc. will post $1.44 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 18th. Shareholders of record on Monday, August 7th will be given a $0.20 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $0.80 dividend on an annualized basis and a yield of 1.71%. PetMed Express’s payout ratio is currently 61.54%.
PETS has been the topic of several recent analyst reports. Zacks Investment Research raised shares of PetMed Express from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, May 10th. Northcoast Research raised shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 target price on the stock in a research note on Monday, July 24th. Craig Hallum downgraded shares of PetMed Express from a “buy” rating to a “hold” rating in a research note on Tuesday, July 11th. Finally, Noble Financial reissued a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. PetMed Express has a consensus rating of “Hold” and an average target price of $35.00.
In other PetMed Express news, CFO Bruce S. Rosenbloom sold 6,833 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $50.18, for a total value of $342,879.94. Following the transaction, the chief financial officer now owns 18,534 shares of the company’s stock, valued at $930,036.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert C. Schweitzer sold 2,500 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $49.18, for a total transaction of $122,950.00. Following the completion of the transaction, the director now directly owns 88,834 shares in the company, valued at approximately $4,368,856.12. The disclosure for this sale can be found here. Insiders sold 19,333 shares of company stock worth $949,730 in the last ninety days. 4.00% of the stock is currently owned by corporate insiders.
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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