PetMed Express, Inc. (PETS) Sees Strong Trading Volume Following Earnings Beat

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.

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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.

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