Federated Hermes Inc. Acquires 213,903 Shares of PetMed Express, Inc. (NASDAQ:PETS)

Federated Hermes Inc. grew its position in PetMed Express, Inc. (NASDAQ:PETS - Free Report) by 54.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 606,430 shares of the company's stock after buying an additional 213,903 shares during the quarter. Federated Hermes Inc. owned 2.94% of PetMed Express worth $2,456,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quest Partners LLC acquired a new stake in PetMed Express in the fourth quarter valued at about $47,000. Oak Thistle LLC acquired a new stake in shares of PetMed Express in the 1st quarter valued at approximately $50,000. SG Americas Securities LLC bought a new stake in shares of PetMed Express during the 2nd quarter valued at approximately $46,000. Pinnacle Wealth Planning Services Inc. acquired a new position in PetMed Express during the 1st quarter worth approximately $61,000. Finally, Legacy Advisors LLC bought a new position in PetMed Express in the 2nd quarter valued at approximately $96,000. Institutional investors own 73.33% of the company's stock.

PetMed Express Trading Down 3.2 %

NASDAQ:PETS traded down $0.12 during trading hours on Friday, hitting $3.66. 71,962 shares of the company were exchanged, compared to its average volume of 356,953. The stock has a market capitalization of $75.40 million, a price-to-earnings ratio of -9.44 and a beta of 0.71. PetMed Express, Inc. has a one year low of $2.90 and a one year high of $11.33. The company has a fifty day simple moving average of $3.47 and a 200 day simple moving average of $4.05.

PetMed Express (NASDAQ:PETS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.30. The company had revenue of $67.95 million for the quarter, compared to analyst estimates of $77.52 million. PetMed Express had a negative return on equity of 3.44% and a negative net margin of 1.24%. Equities research analysts predict that PetMed Express, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PETS. Morgan Stanley lowered their price target on shares of PetMed Express from $6.50 to $3.50 and set an "underweight" rating for the company in a report on Wednesday, June 12th. Lake Street Capital reissued a "hold" rating and set a $3.50 price target (down from $7.00) on shares of PetMed Express in a research note on Wednesday, August 7th.

About PetMed Express

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 household pet 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.