The Manufacturers Life Insurance Company cut its stake in shares of PetMed Express, Inc. (NASDAQ:PETS) by 1.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,551 shares of the company’s stock after selling 156 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.08% of PetMed Express worth $632,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Arrowstreet Capital Limited Partnership acquired a new position in PetMed Express in the second quarter valued at approximately $1,091,000. Maverick Capital Ltd. acquired a new position in PetMed Express in the second quarter valued at approximately $471,000. Gotham Asset Management LLC acquired a new position in PetMed Express in the second quarter valued at approximately $1,314,000. Fred Alger Management Inc. acquired a new position in PetMed Express in the second quarter valued at approximately $162,000. Finally, Royal Bank of Canada boosted its holdings in PetMed Express by 86.5% in the second quarter. Royal Bank of Canada now owns 8,337 shares of the company’s stock valued at $338,000 after purchasing an additional 3,867 shares in the last quarter. 85.57% of the stock is owned by hedge funds and other institutional investors.

In other PetMed Express news, Director Ronald J. Korn sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 27th. The stock was sold at an average price of $35.57, for a total value of $35,570.00. Following the completion of the sale, the director now owns 73,833 shares in the company, valued at $2,626,239.81. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.00% of the stock is currently owned by insiders.

A number of brokerages recently issued reports on PETS. ValuEngine downgraded PetMed Express from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Credit Suisse Group reaffirmed an “underperform” rating and issued a $19.00 price target on shares of PetMed Express in a report on Monday, October 2nd. Craig Hallum reaffirmed a “hold” rating and issued a $40.00 price target (down from $43.00) on shares of PetMed Express in a report on Monday, August 21st. They noted that the move was a valuation call. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a report on Wednesday, July 26th. Finally, 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. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $42.00.

PetMed Express, Inc. (NASDAQ PETS) opened at $39.48 on Tuesday. PetMed Express, Inc. has a fifty-two week low of $19.21 and a fifty-two week high of $50.90. The stock has a market capitalization of $796.77, a P/E ratio of 25.95, a P/E/G ratio of 2.32 and a beta of 1.09.

PetMed Express (NASDAQ:PETS) last issued its quarterly earnings data on Monday, October 23rd. The company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.30 by $0.13. PetMed Express had a return on equity of 31.46% and a net margin of 11.58%. The company had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $63.41 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. research analysts predict that PetMed Express, Inc. will post 1.67 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 17th. Shareholders of record on Monday, November 6th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend was Friday, November 3rd. PetMed Express’s dividend payout ratio is currently 53.69%.

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PetMed Express 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.

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

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