Redwood Investments LLC Raises Stake in PetIQ Inc (PETQ)

Redwood Investments LLC raised its holdings in shares of PetIQ Inc (NASDAQ:PETQ) by 19.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 451,152 shares of the company’s stock after acquiring an additional 72,099 shares during the quarter. Redwood Investments LLC’s holdings in PetIQ were worth $14,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. grew its stake in shares of PetIQ by 46.5% during the 4th quarter. BlackRock Inc. now owns 1,343,674 shares of the company’s stock worth $31,536,000 after acquiring an additional 426,190 shares in the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of PetIQ by 8.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 1,080,000 shares of the company’s stock worth $25,348,000 after acquiring an additional 80,000 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of PetIQ by 39.3% during the 1st quarter. Janus Henderson Group PLC now owns 736,786 shares of the company’s stock worth $23,142,000 after acquiring an additional 207,939 shares in the last quarter. Vanguard Group Inc grew its stake in shares of PetIQ by 30.3% during the 3rd quarter. Vanguard Group Inc now owns 669,106 shares of the company’s stock worth $26,303,000 after acquiring an additional 155,756 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of PetIQ by 30.3% in the 3rd quarter. Vanguard Group Inc. now owns 669,106 shares of the company’s stock valued at $26,303,000 after buying an additional 155,756 shares during the last quarter. 86.40% of the stock is owned by institutional investors.

In other PetIQ news, insider Will Santana sold 20,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $30.54, for a total transaction of $610,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director James Nathan Clarke purchased 31,031 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were acquired at an average cost of $28.12 per share, with a total value of $872,591.72. The disclosure for this purchase can be found here. Insiders have sold a total of 120,000 shares of company stock valued at $3,524,800 in the last ninety days. Insiders own 23.79% of the company’s stock.



Several research firms have recently commented on PETQ. BidaskClub raised PetIQ from a “buy” rating to a “strong-buy” rating in a report on Friday, January 25th. Zacks Investment Research downgraded PetIQ from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 5th. ValuEngine raised PetIQ from a “hold” rating to a “buy” rating in a report on Wednesday, February 13th. Finally, Raymond James cut their price objective on PetIQ from $42.00 to $39.00 and set an “outperform” rating for the company in a report on Monday, March 4th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $41.67.

PetIQ stock traded up $0.16 during mid-day trading on Friday, hitting $28.31. 3,479 shares of the company’s stock traded hands, compared to its average volume of 692,784. PetIQ Inc has a fifty-two week low of $17.56 and a fifty-two week high of $43.93. The company has a market capitalization of $827.71 million, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.35 and a beta of 2.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 2.89 and a quick ratio of 1.51.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.19. PetIQ had a return on equity of 9.47% and a net margin of 0.51%. The business had revenue of $148.44 million during the quarter, compared to the consensus estimate of $139.03 million. As a group, equities analysts anticipate that PetIQ Inc will post 0.87 earnings per share for the current fiscal year.

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About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

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Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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