Virginia Retirement Systems ET AL reduced its position in shares of PetMed Express, Inc. (NASDAQ:PETS) by 3.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 69,300 shares of the company’s stock after selling 2,500 shares during the period. Virginia Retirement Systems ET AL owned approximately 0.34% of PetMed Express worth $2,814,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of PetMed Express by 4.3% in the first quarter. Vanguard Group Inc. now owns 1,075,251 shares of the company’s stock worth $21,656,000 after buying an additional 44,560 shares in the last quarter. Fisher Asset Management LLC raised its stake in shares of PetMed Express by 43.5% in the first quarter. Fisher Asset Management LLC now owns 86,359 shares of the company’s stock worth $1,739,000 after buying an additional 26,195 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of PetMed Express by 3.3% in the first quarter. Wells Fargo & Company MN now owns 348,244 shares of the company’s stock worth $7,014,000 after buying an additional 10,971 shares in the last quarter. Aperio Group LLC raised its stake in shares of PetMed Express by 25.5% in the second quarter. Aperio Group LLC now owns 30,918 shares of the company’s stock worth $1,255,000 after buying an additional 6,278 shares in the last quarter. Finally, Personal Capital Advisors Corp purchased a new stake in shares of PetMed Express during the second quarter worth about $2,198,000. 79.15% of the stock is owned by hedge funds and other institutional investors.

PetMed Express, Inc. (NASDAQ:PETS) opened at 35.99 on Tuesday. PetMed Express, Inc. has a 52-week low of $18.90 and a 52-week high of $50.90. The firm has a 50-day moving average of $43.93 and a 200-day moving average of $31.67. The firm has a market cap of $730.31 million, a PE ratio of 27.68 and a beta of 0.99.

PetMed Express (NASDAQ:PETS) last issued its earnings results on Monday, July 24th. The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.07. PetMed Express had a return on equity of 28.67% and a net margin of 10.34%. The company had revenue of $79.66 million for the quarter, compared to analyst estimates of $77.32 million. During the same period in the prior year, the firm posted $0.32 EPS. The business’s revenue was up 9.9% compared to the same quarter last year. Equities analysts anticipate that PetMed Express, Inc. will post $1.45 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 18th. Shareholders of record on Monday, August 7th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.22%. The ex-dividend date was Thursday, August 3rd. PetMed Express’s payout ratio is currently 61.54%.

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A number of equities research analysts recently issued reports on PETS shares. BidaskClub lowered shares of PetMed Express from a “strong-buy” rating to a “buy” rating in a report on Tuesday, August 22nd. Craig Hallum cut shares of PetMed Express from a “buy” rating to a “hold” rating in a research report on Tuesday, July 11th. Sidoti raised shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 target price on the stock in a research report on Thursday, August 24th. 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 report on Wednesday, May 10th. Finally, Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a research report on Wednesday, July 26th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $44.75.

In other news, Director Ronald J. Korn sold 5,000 shares of the stock in a transaction dated Friday, July 28th. The stock was sold at an average price of $48.18, for a total transaction of $240,900.00. Following the transaction, the director now owns 67,333 shares of the company’s stock, valued at approximately $3,244,103.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Bruce S. Rosenbloom sold 6,833 shares of the 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 directly owns 18,534 shares in the company, valued at approximately $930,036.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,333 shares of company stock worth $949,730. Insiders own 4.00% of the company’s stock.

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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Institutional Ownership by Quarter for PetMed Express (NASDAQ:PETS)

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