Fintel reports that on July 27, 2023, Morgan Stanley reiterated coverage of Petmed Express (NASDAQ:PETS) with a Underweight recommendation.
Analyst Price Forecast Suggests 33.48% Upside
As of July 6, 2023, the average one-year price target for Petmed Express is 18.70. The forecasts range from a low of 17.17 to a high of $21.00. The average price target represents an increase of 33.48% from its latest reported closing price of 14.01.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Petmed Express is 289MM, an increase of 12.34%. The projected annual non-GAAP EPS is 0.99.
Petmed Express Declares $0.30 Dividend
On May 22, 2023 the company declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of June 6, 2023 received the payment on June 12, 2023. Previously, the company paid $0.30 per share.
At the current share price of $14.01 / share, the stock's dividend yield is 8.57%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.80%, the lowest has been 2.80%, and the highest has been 9.25%. The standard deviation of yields is 1.41 (n=235).
The current dividend yield is 2.66 standard deviations above the historical average.
What is the Fund Sentiment?
There are 396 funds or institutions reporting positions in Petmed Express. This is unchanged over the last quarter. Average portfolio weight of all funds dedicated to PETS is 0.07%, a decrease of 54.85%. Total shares owned by institutions increased in the last three months by 0.20% to 19,021K shares. 
The put/call ratio of PETS is 2.09, indicating a bearish outlook.
What are Other Shareholders Doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,527K shares representing 7.48% ownership of the company. In it's prior filing, the firm reported owning 1,567K shares, representing a decrease of 2.61%. The firm decreased its portfolio allocation in PETS by 13.11% over the last quarter.
Renaissance Technologies holds 968K shares representing 4.74% ownership of the company. In it's prior filing, the firm reported owning 933K shares, representing an increase of 3.63%. The firm decreased its portfolio allocation in PETS by 7.66% over the last quarter.
Mirae Asset Global Investments Co. holds 701K shares representing 3.43% ownership of the company. In it's prior filing, the firm reported owning 589K shares, representing an increase of 15.90%. The firm decreased its portfolio allocation in PETS by 58.20% over the last quarter.
DIV - Global X SuperDividend U.S. ETF holds 681K shares representing 3.34% ownership of the company. In it's prior filing, the firm reported owning 565K shares, representing an increase of 17.09%. The firm decreased its portfolio allocation in PETS by 3.95% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 640K shares representing 3.13% ownership of the company. No change in the last quarter.
Petmed Express Background Information
(This description is provided by the company.)
Founded in 1996, PetMed Express is America's Most Trusted Pet Pharmacy, delivering prescription and non-prescription pet medications and other health products for dogs, cats, and horses at competitive prices direct to the consumer through its toll free number and on the Internet through its website.
Additional reading:
- PETMED EXPRESS, INC. 2022 EMPLOYEE EQUITY COMPENSATION PLAN (amending and restating the PetMed Express, Inc. 2022 Employee Equity Compensation Restricted Stock Plan)
- PETMED EXPRESS, INC. 2022 EMPLOYEE EQUITY COMPENSATION RESTRICTED STOCK PLAN (amending and restating the PetMed Express, Inc. 2022 Employee Equity Compensation Restricted Stock Plan)
- PETMED EXPRESS, INC. 2015 OUTSIDE DIRECTOR EQUITY COMPENSATION PLAN (amending and restating the PetMed Express, Inc. 2015 Outside Director Equity Compensation Restricted Stock Plan)
- PETMED EXPRESS, INC. 2015 OUTSIDE DIRECTOR EQUITY COMPENSATION RESTRICTED STOCK PLAN PLAN (amending and restating the PetMed Express, Inc. 2015 Outside Director Equity Compensation Restricted Stock Plan)
- RESTRICTED STOCK UNIT AGREEMENT PURSUANT TO PETMED EXPRESS, INC. 2015 DIRECTOR EQUITY COMPENSATION PLAN
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
