Insider Selling: Petmed Express Inc (PETS) Director Sells 5,000 Shares of Stock

Petmed Express Inc (NASDAQ:PETS) Director Ronald J. Korn sold 5,000 shares of Petmed Express stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $48.38, for a total transaction of $241,900.00. Following the sale, the director now owns 68,833 shares in the company, valued at $3,330,140.54. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Shares of Petmed Express Inc (NASDAQ PETS) traded down $1.23 during mid-day trading on Tuesday, hitting $47.03. 349,029 shares of the stock were exchanged, compared to its average volume of 936,252. Petmed Express Inc has a 12 month low of $19.21 and a 12 month high of $57.80. The firm has a market capitalization of $984.73, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.81 and a beta of 1.12.

Petmed Express (NASDAQ:PETS) last announced its earnings results on Monday, January 22nd. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.33 by $0.11. Petmed Express had a net margin of 12.84% and a return on equity of 34.04%. The company had revenue of $60.10 million for the quarter, compared to analyst estimates of $56.76 million. During the same period in the prior year, the business earned $0.24 earnings per share. Petmed Express’s quarterly revenue was up 13.6% on a year-over-year basis. equities research analysts anticipate that Petmed Express Inc will post 1.7 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, February 16th. Stockholders of record on Monday, February 5th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from Petmed Express’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, February 2nd. Petmed Express’s dividend payout ratio is presently 47.34%.

Several analysts have recently weighed in on PETS shares. Credit Suisse Group reiterated an “underperform” rating and set a $19.00 target price on shares of Petmed Express in a research report on Monday, October 2nd. ValuEngine lowered shares of Petmed Express from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research upgraded shares of Petmed Express from a “sell” rating to a “hold” rating and set a $50.00 price target on the stock in a research report on Friday, October 20th. Noble Financial restated a “hold” rating on shares of Petmed Express in a research report on Friday, October 27th. Finally, BidaskClub upgraded shares of Petmed Express from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $42.80.

Several hedge funds have recently made changes to their positions in the company. Pinebridge Investments L.P. lifted its position in shares of Petmed Express by 1.0% during the second quarter. Pinebridge Investments L.P. now owns 2,704 shares of the company’s stock worth $110,000 after purchasing an additional 27 shares in the last quarter. QS Investors LLC lifted its position in shares of Petmed Express by 4.0% during the second quarter. QS Investors LLC now owns 9,324 shares of the company’s stock worth $379,000 after purchasing an additional 356 shares in the last quarter. Thrivent Financial For Lutherans lifted its position in shares of Petmed Express by 7.9% during the second quarter. Thrivent Financial For Lutherans now owns 12,440 shares of the company’s stock worth $505,000 after purchasing an additional 910 shares in the last quarter. Cardinal Capital Management raised its stake in shares of Petmed Express by 11.6% during the third quarter. Cardinal Capital Management now owns 12,553 shares of the company’s stock worth $416,000 after buying an additional 1,309 shares during the last quarter. Finally, Sterling Investment Advisors Ltd. raised its stake in shares of Petmed Express by 118.5% during the fourth quarter. Sterling Investment Advisors Ltd. now owns 2,950 shares of the company’s stock worth $134,000 after buying an additional 1,600 shares during the last quarter. Institutional investors own 97.81% of the company’s stock.

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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.

Insider Buying and Selling by Quarter for Petmed Express (NASDAQ:PETS)

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