Baird Financial Group Inc. Has $1.37 Million Position in PetMed Express, Inc. (NASDAQ:PETS)

Baird Financial Group Inc. reduced its stake in shares of PetMed Express, Inc. (NASDAQ:PETSGet Rating) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,919 shares of the company’s stock after selling 1,214 shares during the quarter. Baird Financial Group Inc.’s holdings in PetMed Express were worth $1,371,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of PETS. Mirae Asset Global Investments Co. Ltd. grew its position in shares of PetMed Express by 46.3% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 546,352 shares of the company’s stock worth $14,096,000 after buying an additional 173,030 shares during the period. Renaissance Technologies LLC lifted its holdings in shares of PetMed Express by 19.1% during the 1st quarter. Renaissance Technologies LLC now owns 972,784 shares of the company’s stock valued at $25,098,000 after purchasing an additional 156,300 shares in the last quarter. SMH Capital Advisors Inc. lifted its holdings in shares of PetMed Express by 1,821.0% during the 2nd quarter. SMH Capital Advisors Inc. now owns 158,310 shares of the company’s stock valued at $2,055,000 after purchasing an additional 150,069 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of PetMed Express by 105.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 180,392 shares of the company’s stock valued at $4,654,000 after purchasing an additional 92,767 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in shares of PetMed Express by 1.4% during the 1st quarter. BlackRock Inc. now owns 3,337,821 shares of the company’s stock valued at $86,115,000 after purchasing an additional 47,018 shares in the last quarter. 85.52% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PETS has been the topic of several recent analyst reports. StockNews.com initiated coverage on PetMed Express in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley cut their target price on PetMed Express from $19.00 to $18.00 and set an “underweight” rating on the stock in a research note on Tuesday, November 8th.

PetMed Express Stock Performance

NASDAQ PETS opened at $19.25 on Friday. The stock has a market capitalization of $405.71 million, a price-to-earnings ratio of 24.68 and a beta of 0.60. The stock’s 50 day moving average price is $20.55 and its two-hundred day moving average price is $21.11. PetMed Express, Inc. has a 52 week low of $18.22 and a 52 week high of $29.95.

PetMed Express Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 30th. Shareholders of record on Friday, November 18th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 6.23%. The ex-dividend date is Thursday, November 17th. PetMed Express’s payout ratio is 153.85%.

PetMed Express Company Profile

(Get Rating)

PetMed Express, Inc, together with its subsidiaries, operates as a pet pharmacy in the United States. The company markets prescription and non-prescription pet medications, health products, and other supplies for dogs, cats, and horses. It offers non-prescription medications and supplies, such as flea and tick control products, bone and joint care products, vitamins, treats, nutritional supplements, hygiene products, and supplies; and prescription medications, including heartworm preventatives, flea and tick preventatives, arthritis, dermatitis, thyroid, diabetes, pain medications, heart/blood pressure, and other specialty medications, as well as generic substitutes.

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Institutional Ownership by Quarter for PetMed Express (NASDAQ:PETS)

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