Petmed Express Inc (NASDAQ:PETS) Receives Average Rating of “Sell” from Brokerages
Shares of Petmed Express Inc (NASDAQ:PETS) have been assigned an average recommendation of “Sell” from the six brokerages that are presently covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell rating and two have issued a hold rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $18.00.
Separately, BidaskClub upgraded Petmed Express from a “sell” rating to a “hold” rating in a research report on Wednesday, April 3rd.
PETS traded down $0.07 on Wednesday, hitting $17.70. 498,182 shares of the company were exchanged, compared to its average volume of 659,179. Petmed Express has a 12 month low of $16.93 and a 12 month high of $46.83. The firm has a market cap of $350.67 million, a price-to-earnings ratio of 9.27 and a beta of 0.66.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Stockholders of record on Friday, May 17th were given a $0.27 dividend. The ex-dividend date of this dividend was Thursday, May 16th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 6.10%.
Several hedge funds have recently modified their holdings of the company. Freestone Capital Holdings LLC purchased a new position in Petmed Express during the first quarter valued at $22,780,000. Capital Investment Advisory Services LLC purchased a new position in Petmed Express during the fourth quarter valued at $26,000. Fifth Third Bancorp raised its stake in Petmed Express by 288.2% during the first quarter. Fifth Third Bancorp now owns 1,650 shares of the company’s stock valued at $38,000 after buying an additional 1,225 shares during the last quarter. Manchester Capital Management LLC raised its stake in Petmed Express by 185.8% during the first quarter. Manchester Capital Management LLC now owns 1,938 shares of the company’s stock valued at $44,000 after buying an additional 1,260 shares during the last quarter. Finally, Financial Gravity Wealth Inc. purchased a new position in Petmed Express during the first quarter valued at $49,000. Hedge funds and other institutional investors own 99.65% of the company’s stock.
Petmed Express Company Profile
PetMed Express, Inc and its subsidiaries, doing business as 1-800-PetMeds, operates as a pet pharmacy in the United States. It markets prescription and non-prescription pet medications, and other health products for dogs and cats directly to the consumers. The company offers non-prescription medications and supplies, including flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, such as heartworm preventative, flea and tick preventative, arthritis, thyroid, diabetes, pain, heart/blood pressure, and other specialty medications, as well as generic substitutes.
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