PetMed Express, Inc. to Issue Quarterly Dividend of $0.20 (PETS)
PetMed Express, Inc. (NASDAQ:PETS) declared a quarterly dividend on Tuesday, October 24th, Wall Street Journal reports. Shareholders of record on Monday, November 6th will be paid a dividend of 0.20 per share on Friday, November 17th. This represents a $0.80 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend is Friday, November 3rd.
Shares of PetMed Express (PETS) traded down 11.61% on Tuesday, reaching $38.37. 2,279,111 shares of the company’s stock were exchanged. PetMed Express has a one year low of $18.90 and a one year high of $50.90. The firm has a 50 day moving average of $35.86 and a 200 day moving average of $36.30. The firm has a market capitalization of $778.60 million, a P/E ratio of 29.52 and a beta of 1.03.
PetMed Express (NASDAQ:PETS) last announced its earnings results on Monday, October 23rd. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.13. The business had revenue of $66.70 million for the quarter, compared to analysts’ expectations of $63.41 million. PetMed Express had a net margin of 10.34% and a return on equity of 28.67%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 EPS. On average, equities research analysts predict that PetMed Express will post $1.44 EPS for the current year.
In other PetMed Express news, Director Ronald J. Korn sold 5,000 shares of the business’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $48.18, for a total transaction of $240,900.00. Following the sale, the director now directly owns 67,333 shares in the company, valued at approximately $3,244,103.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Bruce S. Rosenbloom sold 6,833 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $50.18, for a total transaction of $342,879.94. Following the sale, the chief financial officer now owns 18,534 shares in the company, valued at $930,036.12. The disclosure for this sale can be found here. Insiders have sold a total of 19,333 shares of company stock worth $949,730 over the last 90 days. Insiders own 4.00% of the company’s stock.
A number of equities analysts have recently commented on the stock. Zacks Investment Research raised shares of PetMed Express from a “sell” rating to a “hold” rating in a report on Friday. Credit Suisse Group reissued an “underperform” rating and issued a $19.00 price objective on shares of PetMed Express in a research note on Monday, October 2nd. ValuEngine cut shares of PetMed Express from a “buy” rating to a “hold” rating in a research note on Monday, October 2nd. Craig Hallum reissued a “hold” rating and issued a $40.00 price objective (down from $43.00) on shares of PetMed Express in a research note on Monday, August 21st. They noted that the move was a valuation call. Finally, Noble Financial reissued a “hold” rating on shares of PetMed Express in a research note on Wednesday, July 26th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. PetMed Express presently has an average rating of “Hold” and an average target price of $40.00.
About PetMed Express
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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