Petmed Express Inc (PETS) to Issue Quarterly Dividend of $0.27 on November 16th

Petmed Express Inc (NASDAQ:PETS) announced a quarterly dividend on Tuesday, October 23rd, Wall Street Journal reports. Stockholders of record on Monday, November 5th will be given a dividend of 0.27 per share on Friday, November 16th. This represents a $1.08 annualized dividend and a dividend yield of 3.81%. The ex-dividend date is Friday, November 2nd.

Petmed Express has raised its dividend payment by an average of 5.1% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Petmed Express has a payout ratio of 47.4% indicating that its dividend is sufficiently covered by earnings.

PETS opened at $28.31 on Friday. Petmed Express has a 1-year low of $27.63 and a 1-year high of $57.80. The company has a market capitalization of $585.62 million, a PE ratio of 13.61 and a beta of 0.54.

Petmed Express (NASDAQ:PETS) last posted its quarterly earnings data on Monday, October 22nd. The company reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. Petmed Express had a return on equity of 35.53% and a net margin of 14.88%. The company had revenue of $71.40 million during the quarter, compared to analysts’ expectations of $71.93 million. During the same period in the prior year, the business earned $0.43 earnings per share. Petmed Express’s revenue for the quarter was up 7.0% compared to the same quarter last year.

PETS has been the subject of several research reports. BidaskClub cut Petmed Express from a “hold” rating to a “sell” rating in a research report on Wednesday, October 3rd. ValuEngine cut Petmed Express from a “sell” rating to a “strong sell” rating in a research report on Tuesday, July 24th. Zacks Investment Research cut Petmed Express from a “buy” rating to a “hold” rating in a research report on Tuesday, July 10th. Finally, Craig Hallum reaffirmed a “sell” rating and issued a $32.00 target price (down from $38.00) on shares of Petmed Express in a research report on Monday, July 9th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $42.67.

In related news, Director Robert C. Schweitzer sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $37.00, for a total value of $277,500.00. Following the completion of the transaction, the director now directly owns 88,334 shares of the company’s stock, valued at $3,268,358. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 3.70% of the stock is owned by company insiders.

About Petmed Express

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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Dividend History for Petmed Express (NASDAQ:PETS)

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