Insider Selling: PetMed Express Inc. (PETS) Director Sells 10,000 Shares of Stock
PetMed Express Inc. (NASDAQ:PETS) Director Frank J. Formica sold 10,000 shares of PetMed Express stock in a transaction that occurred on Wednesday, November 16th. The shares were sold at an average price of $21.75, for a total transaction of $217,500.00. Following the sale, the director now directly owns 51,000 shares in the company, valued at $1,109,250. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
PetMed Express Inc. (NASDAQ:PETS) traded up 0.64% during midday trading on Friday, reaching $21.99. 147,163 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $20.39 and a 200-day moving average of $19.75. The stock has a market cap of $445.36 million, a PE ratio of 20.55 and a beta of 1.11. PetMed Express Inc. has a 12 month low of $15.73 and a 12 month high of $22.23.
PetMed Express (NASDAQ:PETS) last announced its quarterly earnings results on Monday, October 24th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by $0.02. PetMed Express had a return on equity of 25.77% and a net margin of 9.10%. The firm earned $60.80 million during the quarter, compared to analysts’ expectations of $58.47 million. During the same period in the previous year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that PetMed Express Inc. will post $1.09 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Monday, November 7th will be issued a $0.19 dividend. This represents a $0.76 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, November 3rd. PetMed Express’s payout ratio is 71.03%.
A number of equities research analysts have weighed in on PETS shares. Zacks Investment Research raised shares of PetMed Express from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Wednesday, July 27th. Credit Suisse Group AG reissued a “sell” rating and set a $13.00 target price on shares of PetMed Express in a report on Tuesday, August 16th.
Large investors have recently made changes to their positions in the company. NEXT Financial Group Inc increased its stake in shares of PetMed Express by 167.2% in the second quarter. NEXT Financial Group Inc now owns 5,354 shares of the company’s stock worth $100,000 after buying an additional 3,350 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of PetMed Express by 101.2% in the second quarter. BNP Paribas Arbitrage SA now owns 6,206 shares of the company’s stock worth $116,000 after buying an additional 3,121 shares in the last quarter. Royal Bank of Canada increased its stake in shares of PetMed Express by 19.6% in the second quarter. Royal Bank of Canada now owns 6,423 shares of the company’s stock worth $120,000 after buying an additional 1,053 shares in the last quarter. Cutler Group LP increased its stake in shares of PetMed Express by 832.0% in the second quarter. Cutler Group LP now owns 7,064 shares of the company’s stock worth $132,000 after buying an additional 8,029 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of PetMed Express during the second quarter worth $143,000. 74.53% of the stock is currently owned by hedge funds and other institutional investors.
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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