PetMed Express, Inc. (NASDAQ:PETS) shares saw an uptick in trading volume on Monday after the company announced better than expected quarterly earnings. 4,392,189 shares changed hands during trading, an increase of 706% from the previous session’s volume of 544,771 shares.The stock last traded at $47.95 and had previously closed at $40.54.
The company reported $0.45 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.38 by $0.07. The firm had revenue of $79.66 million during the quarter, compared to the consensus estimate of $77.32 million. PetMed Express had a return on equity of 28.67% and a net margin of 10.34%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.32 earnings per share.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 18th. Investors of record on Monday, August 7th were issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date was Thursday, August 3rd. PetMed Express’s dividend payout ratio (DPR) is 61.54%.
PETS has been the subject of a number of research analyst reports. Northcoast Research raised PetMed Express from a “neutral” rating to a “buy” rating and set a $54.00 price target for the company in a report on Monday, July 24th. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a report on Wednesday, July 26th. Craig Hallum downgraded PetMed Express from a “buy” rating to a “hold” rating in a report on Tuesday, July 11th. Finally, Zacks Investment Research raised PetMed Express from a “hold” rating to a “strong-buy” rating and set a $38.00 price target for the company in a report on Wednesday, May 10th.
In other PetMed Express news, Director Robert C. Schweitzer sold 2,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $49.18, for a total value of $122,950.00. Following the completion of the sale, the director now owns 88,834 shares in the company, valued at $4,368,856.12. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronald J. Korn sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The stock was sold at an average price of $48.18, for a total value of $240,900.00. Following the sale, the director now owns 67,333 shares of the company’s stock, valued at approximately $3,244,103.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,333 shares of company stock valued at $949,730. 4.00% of the stock is owned by company insiders.
Several large investors have recently added to or reduced their stakes in PETS. Acadian Asset Management LLC bought a new stake in PetMed Express during the second quarter valued at approximately $18,691,000. Oaktop Capital Management II L.P. bought a new stake in PetMed Express during the second quarter valued at approximately $15,171,000. Vanguard Group Inc. boosted its stake in PetMed Express by 21.0% in the second quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock valued at $52,810,000 after buying an additional 225,474 shares during the period. Koch Industries Inc. bought a new stake in PetMed Express during the second quarter valued at approximately $212,000. Finally, Renaissance Technologies LLC boosted its stake in 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 during the period. Institutional investors and hedge funds own 79.12% of the company’s stock.
The company has a market capitalization of $898.73 million, a price-to-earnings ratio of 34.07 and a beta of 0.99. The company has a 50 day moving average of $44.40 and a 200-day moving average of $31.08.
TRADEMARK VIOLATION WARNING: This article was originally published by BNB Daily and is the sole property of of BNB Daily. If you are reading this article on another website, it was stolen and republished in violation of United States & international copyright law. The legal version of this article can be read at https://www.baseball-news-blog.com/2017/08/19/petmed-express-inc-pets-sees-strong-trading-volume-on-earnings-beat-updated-updated-updated.html.
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.
Receive News & Ratings for PetMed Express Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetMed Express Inc. and related companies with MarketBeat.com's FREE daily email newsletter.