PetMed Express Target of Unusually Large Options Trading (PETS)

PetMed Express, Inc. (NASDAQ:PETS) was the recipient of unusually large options trading activity on Tuesday. Stock traders purchased 1,258 call options on the stock. This represents an increase of approximately 805% compared to the typical volume of 139 call options.

PetMed Express (NASDAQ PETS) opened at $43.09 on Friday. The company has a market cap of $862.70, a PE ratio of 28.10, a P/E/G ratio of 2.51 and a beta of 1.13. PetMed Express has a 12 month low of $19.21 and a 12 month high of $50.90.

PetMed Express (NASDAQ:PETS) last posted its quarterly earnings results on Monday, October 23rd. The company reported $0.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.13. The company had revenue of $66.70 million for the quarter, compared to the consensus estimate of $63.41 million. PetMed Express had a net margin of 11.58% and a return on equity of 31.46%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.24 EPS. analysts predict that PetMed Express will post 1.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, November 17th. Investors of record on Monday, November 6th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 1.86%. The ex-dividend date of this dividend was Friday, November 3rd. PetMed Express’s dividend payout ratio is presently 53.69%.

In other news, Director Ronald J. Korn sold 1,000 shares of the firm’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $35.57, for a total value of $35,570.00. Following the completion of the sale, the director now owns 73,833 shares in the company, valued at approximately $2,626,239.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 4.00% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in PetMed Express by 21.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,300,725 shares of the company’s stock valued at $52,810,000 after purchasing an additional 225,474 shares during the period. Dimensional Fund Advisors LP increased its position in PetMed Express by 8.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 860,601 shares of the company’s stock valued at $34,940,000 after purchasing an additional 65,932 shares during the period. Prudential Financial Inc. increased its position in PetMed Express by 552.8% during the 3rd quarter. Prudential Financial Inc. now owns 824,434 shares of the company’s stock valued at $27,330,000 after purchasing an additional 698,140 shares during the period. Bank of New York Mellon Corp increased its position in PetMed Express by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 432,057 shares of the company’s stock valued at $17,542,000 after purchasing an additional 49,889 shares during the period. Finally, Oaktop Capital Management II L.P. purchased a new position in PetMed Express during the 2nd quarter valued at about $15,171,000. 99.91% of the stock is currently owned by institutional investors.

Several equities research analysts have recently issued reports on PETS shares. Sidoti upgraded shares of PetMed Express from a “neutral” rating to a “buy” rating and set a $47.00 target price for the company in a report on Thursday, August 24th. BidaskClub downgraded shares of PetMed Express from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 22nd. Zacks Investment Research raised 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 note on Friday, October 20th. Noble Financial reaffirmed a “hold” rating on shares of PetMed Express in a research note on Friday, October 27th. Finally, Craig Hallum reaffirmed a “hold” rating and issued a $40.00 price target (down previously 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. PetMed Express has a consensus rating of “Hold” and a consensus price target of $42.00.

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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.

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