Kessler Investment Group LLC lowered its holdings in shares of Petmed Express Inc (NASDAQ:PETS) by 38.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,284 shares of the company’s stock after selling 808 shares during the quarter. Kessler Investment Group LLC’s holdings in Petmed Express were worth $30,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also added to or reduced their stakes in the business. First Hawaiian Bank bought a new position in Petmed Express during the fourth quarter valued at $193,000. North Star Investment Management Corp. lifted its position in Petmed Express by 48.7% during the fourth quarter. North Star Investment Management Corp. now owns 114,456 shares of the company’s stock valued at $2,662,000 after purchasing an additional 37,503 shares during the last quarter. Palo Capital Inc. bought a new position in Petmed Express during the third quarter valued at $237,000. Morgan Stanley lifted its position in Petmed Express by 110.1% during the third quarter. Morgan Stanley now owns 312,416 shares of the company’s stock valued at $10,313,000 after purchasing an additional 163,691 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in Petmed Express by 8.9% during the third quarter. Legal & General Group Plc now owns 44,434 shares of the company’s stock valued at $1,490,000 after purchasing an additional 3,626 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.
Several research firms have commented on PETS. ValuEngine upgraded shares of Petmed Express from a “strong sell” rating to a “sell” rating in a research report on Friday, October 26th. BidaskClub lowered shares of Petmed Express from a “sell” rating to a “strong sell” rating in a research report on Thursday, November 15th. Finally, TheStreet lowered shares of Petmed Express from a “b” rating to a “c+” rating in a research report on Thursday, November 29th. Three analysts have rated the stock with a sell rating and two have issued a hold rating to the company. The stock currently has a consensus rating of “Sell” and a consensus price target of $35.00.
Petmed Express (NASDAQ:PETS) last announced its earnings results on Monday, October 22nd. The company reported $0.52 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.02. Petmed Express had a net margin of 14.88% and a return on equity of 35.53%. The business had revenue of $71.40 million for the quarter, compared to the consensus estimate of $71.93 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis.
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Petmed Express 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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