Petmed Express said on February 6, 2023 that its board of directors declared a regular quarterly dividend of $0.30 per share ($1.20 annualized). Shareholders of record as of February 16, 2023 will receive the payment on February 27, 2023. Previously, the company paid $0.30 per share.
At the current share price of $19.87 / share, the stock's dividend yield is 6.04%. Looking back five years and taking a sample every week, the average dividend yield has been 4.32%, the lowest has been 2.12%, and the highest has been 7.01%. The standard deviation of yields is 1.18 (n=236).
The current dividend yield is 1.45 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 2.14. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.11%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 2.67% Upside
As of February 10, 2023, the average one-year price target for Petmed Express is $20.40. The forecasts range from a low of $18.18 to a high of $24.15. The average price target represents an increase of 2.67% from its latest reported closing price of $19.87.
The projected annual revenue for Petmed Express is $273MM, an increase of 4.99%. The projected annual EPS is $0.76, an increase of 35.24%.
What is the Fund Sentiment?
There are 409 funds or institutions reporting positions in Petmed Express. This is a decrease of 8 owner(s) or 1.92% in the last quarter. Average portfolio weight of all funds dedicated to PETS is 0.08%, a decrease of 15.09%. Total shares owned by institutions decreased in the last three months by 2.32% to 18,920K shares. The put/call ratio of PETS is 1.41, indicating a bearish outlook.
What are large shareholders doing?
IJR - iShares Core S&P Small-Cap ETF holds 1,537K shares representing 7.57% ownership of the company. In it's prior filing, the firm reported owning 1,472K shares, representing an increase of 4.28%. The firm increased its portfolio allocation in PETS by 4.00% over the last quarter.
Renaissance Technologies holds 971K shares representing 4.78% ownership of the company. In it's prior filing, the firm reported owning 1,177K shares, representing a decrease of 21.22%. The firm decreased its portfolio allocation in PETS by 3.31% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 640K shares representing 3.15% ownership of the company. In it's prior filing, the firm reported owning 582K shares, representing an increase of 9.03%. The firm increased its portfolio allocation in PETS by 12.40% over the last quarter.
ProShare Advisors holds 597K shares representing 2.94% ownership of the company. In it's prior filing, the firm reported owning 513K shares, representing an increase of 14.06%. The firm decreased its portfolio allocation in PETS by 3.45% over the last quarter.
Mirae Asset Global Investments Co. holds 589K shares representing 2.90% ownership of the company. In it's prior filing, the firm reported owning 565K shares, representing an increase of 4.20%. The firm decreased its portfolio allocation in PETS by 49.97% over 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.
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.
