Insider Selling: PetSmart SVP Sells 5,148 Shares of Stock (PETM)
PetSmart (NASDAQ:PETM) SVP Erick Michael Goldberg sold 5,148 shares of PetSmart stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $60.63, for a total transaction of $312,123.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Morgan Stanley initiated coverage on shares of PetSmart in a research note on Tuesday, June 24th. They set an “underweight” rating and a $60.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. reiterated a “neutral” rating on shares of PetSmart in a research note on Monday, June 23rd. They now have a $63.00 price target on the stock, down previously from $73.00. Finally, analysts at Wedbush downgraded shares of PetSmart from an “outperform” rating to a “neutral” rating in a research note on Thursday, June 19th. Five analysts have rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company. PetSmart has an average rating of “Hold” and an average price target of $59.58.
Shares of PetSmart (NASDAQ:PETM) traded up 1.45% during mid-day trading on Tuesday, hitting $60.67. 2,527,212 shares of the company’s stock traded hands. PetSmart has a 52-week low of $55.00 and a 52-week high of $77.32. The stock’s 50-day moving average is $59.30 and its 200-day moving average is $65.26. The company has a market cap of $6.019 billion and a price-to-earnings ratio of 14.66.
PetSmart (NASDAQ:PETM) last announced its earnings results on Wednesday, May 21st. The company reported $1.04 EPS for the quarter, beating the Thomson Reuters consensus estimate of $1.01 by $0.03. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.77 billion. During the same quarter in the prior year, the company posted $0.98 earnings per share. The company’s quarterly revenue was up 1.1% on a year-over-year basis. On average, analysts predict that PetSmart will post $4.32 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, August 15th. Investors of record on Friday, August 1st will be paid a dividend of $0.195 per share. This represents a $0.78 annualized dividend and a dividend yield of 1.29%. The ex-dividend date is Wednesday, July 30th.
PetSmart, Inc supplies products, services and solutions for the lifetime needs of pets. The Company operates a website for pet supplies, foods and different animal needs.
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