Raymond James & Associates Decreases Holdings in PetMed … – MarketBeat

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Raymond James & Associates decreased its position in shares of PetMed Express, Inc. (NASDAQ:PETS – Get Rating) by 44.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,257 shares of the company’s stock after selling 19,143 shares during the quarter. Raymond James & Associates owned 0.12% of PetMed Express worth $473,000 at the end of the most recent quarter.
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Several other institutional investors have also modified their holdings of PETS. Millennium Management LLC acquired a new position in shares of PetMed Express during the 2nd quarter worth approximately $4,994,000. Renaissance Technologies LLC raised its position in shares of PetMed Express by 21.0% during the 2nd quarter. Renaissance Technologies LLC now owns 1,176,784 shares of the company’s stock worth $23,418,000 after purchasing an additional 204,000 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in shares of PetMed Express by 1,323.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 176,870 shares of the company’s stock worth $3,520,000 after purchasing an additional 164,448 shares during the last quarter. SMH Capital Advisors Inc. raised its position in shares of PetMed Express by 1,821.0% during the 2nd quarter. SMH Capital Advisors Inc. now owns 158,310 shares of the company’s stock worth $2,055,000 after purchasing an additional 150,069 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of PetMed Express by 105.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 180,392 shares of the company’s stock worth $4,654,000 after purchasing an additional 92,767 shares during the last quarter. Hedge funds and other institutional investors own 77.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Morgan Stanley cut their price objective on PetMed Express from $19.00 to $18.00 and set an “underweight” rating for the company in a research report on Tuesday, November 8th. StockNews.com began coverage on PetMed Express in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

PetMed Express Stock Performance

Shares of PETS opened at $21.44 on Thursday. The stock has a fifty day moving average of $19.10 and a two-hundred day moving average of $20.31. The company has a market capitalization of $451.96 million, a PE ratio of 27.49 and a beta of 0.59. PetMed Express, Inc. has a fifty-two week low of $17.08 and a fifty-two week high of $29.53.
PetMed Express (NASDAQ:PETS – Get Rating) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.14). The business had revenue of $65.39 million during the quarter, compared to analyst estimates of $65.00 million. PetMed Express had a net margin of 5.98% and a return on equity of 11.17%. As a group, equities research analysts forecast that PetMed Express, Inc. will post 0.75 earnings per share for the current fiscal year.

PetMed Express Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $1.20 annualized dividend and a yield of 5.60%. PetMed Express’s dividend payout ratio (DPR) is presently 153.85%.

PetMed Express Company Profile

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PetMed Express, Inc engages in the provision of markets prescription and non-prescription pet medications, health products and supplies for dogs and cats. Its non-prescription medications include flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies.

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