Principal Financial Group Inc. Takes Position in PetIQ Inc (PETQ)
Principal Financial Group Inc. acquired a new position in shares of PetIQ Inc (NASDAQ:PETQ) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 22,967 shares of the company’s stock, valued at approximately $539,000. Principal Financial Group Inc. owned approximately 0.08% of PetIQ at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN grew its position in shares of PetIQ by 122.4% in the third quarter. Wells Fargo & Company MN now owns 101,819 shares of the company’s stock valued at $4,002,000 after purchasing an additional 56,031 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of PetIQ by 130.5% in the third quarter. Bank of New York Mellon Corp now owns 194,761 shares of the company’s stock valued at $7,655,000 after purchasing an additional 110,277 shares in the last quarter. BlackRock Inc. grew its position in shares of PetIQ by 9.9% in the third quarter. BlackRock Inc. now owns 917,484 shares of the company’s stock valued at $36,066,000 after purchasing an additional 82,449 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of PetIQ in the third quarter valued at $1,155,000. Finally, JPMorgan Chase & Co. grew its position in shares of PetIQ by 6,548.3% in the third quarter. JPMorgan Chase & Co. now owns 137,554 shares of the company’s stock valued at $5,407,000 after purchasing an additional 135,485 shares in the last quarter. 84.33% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Will Santana sold 20,000 shares of the business’s stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $31.06, for a total transaction of $621,200.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders have sold 124,400 shares of company stock valued at $3,621,216. 23.79% of the stock is owned by company insiders.
PetIQ (NASDAQ:PETQ) last posted its earnings results on Monday, March 11th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.07 by ($0.01). PetIQ had a positive return on equity of 8.53% and a negative net margin of 0.15%. The business had revenue of $111.02 million for the quarter, compared to analysts’ expectations of $98.72 million. As a group, equities research analysts predict that PetIQ Inc will post 0.87 earnings per share for the current fiscal year.
PETQ has been the subject of several recent research reports. Jefferies Financial Group reiterated a “buy” rating and issued a $39.00 price target on shares of PetIQ in a research report on Tuesday, January 15th. BidaskClub cut PetIQ from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 9th. ValuEngine upgraded PetIQ from a “hold” rating to a “buy” rating in a research report on Wednesday, February 13th. Raymond James reduced their price target on PetIQ from $42.00 to $39.00 and set an “outperform” rating for the company in a research report on Monday, March 4th. Finally, Zacks Investment Research cut PetIQ from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $43.40.
PetIQ Company Profile
PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.
See Also: Diversification For Individual Investors
Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.