Supplemental Annuity Collective Trust of NJ trimmed its holdings in shares of PetIQ Inc (NASDAQ:PETQ) by 27.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,000 shares of the company’s stock after selling 12,000 shares during the period. Supplemental Annuity Collective Trust of NJ owned 0.12% of PetIQ worth $1,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Wasatch Advisors Inc. increased its position in PetIQ by 452.1% during the 2nd quarter. Wasatch Advisors Inc. now owns 1,944,321 shares of the company’s stock worth $52,224,000 after purchasing an additional 1,592,157 shares during the period. State of New Jersey Common Pension Fund D lifted its stake in PetIQ by 571.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 940,000 shares of the company’s stock valued at $25,248,000 after buying an additional 800,000 shares in the last quarter. Pembroke Management LTD purchased a new stake in PetIQ in the 2nd quarter valued at approximately $18,637,000. Massachusetts Financial Services Co. MA lifted its stake in PetIQ by 89.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 576,968 shares of the company’s stock valued at $15,497,000 after buying an additional 272,588 shares in the last quarter. Finally, Redwood Investments LLC lifted its stake in PetIQ by 55.5% in the 1st quarter. Redwood Investments LLC now owns 749,611 shares of the company’s stock valued at $19,940,000 after buying an additional 267,430 shares in the last quarter. 74.33% of the stock is owned by institutional investors.
NASDAQ:PETQ opened at $31.94 on Wednesday. The stock has a market capitalization of $825.68 million, a P/E ratio of 81.90, a PEG ratio of 1.69 and a beta of 1.58. PetIQ Inc has a one year low of $17.03 and a one year high of $43.93. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.00 and a quick ratio of 0.90.
PetIQ (NASDAQ:PETQ) last issued its earnings results on Tuesday, August 14th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.39 by $0.02. PetIQ had a negative net margin of 0.76% and a positive return on equity of 11.40%. The firm had revenue of $171.10 million for the quarter, compared to analysts’ expectations of $148.48 million. The company’s quarterly revenue was up 96.2% compared to the same quarter last year. On average, analysts predict that PetIQ Inc will post 0.76 EPS for the current year.
A number of equities research analysts recently issued reports on the company. Oppenheimer upped their target price on PetIQ from $28.00 to $50.00 and gave the company an “outperform” rating in a research note on Friday, October 5th. CL King started coverage on PetIQ in a research note on Friday, September 28th. They set a “buy” rating and a $49.00 price target on the stock. Raymond James reaffirmed a “buy” rating and issued a $45.00 target price (up from $33.00) on shares of PetIQ in a research report on Wednesday, September 19th. Jefferies Financial Group reaffirmed a “buy” rating on shares of PetIQ in a research report on Friday, August 24th. Finally, SunTrust Banks increased their price target on PetIQ to $40.00 and gave the company a “buy” rating in a report on Wednesday, August 15th. One research 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 stock. The stock has a consensus rating of “Buy” and an average target price of $40.67.
In other news, major shareholder Ecp Helios Partners Iv, L.P. sold 1,838,836 shares of PetIQ stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $37.15, for a total transaction of $68,312,757.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO John Newland sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $26.78, for a total transaction of $147,290.00. The disclosure for this sale can be found here. Insiders sold 3,064,477 shares of company stock worth $113,844,980 in the last three months. 45.26% of the stock is currently owned by corporate insiders.
PetIQ Company Profile
PetIQ, Inc operates as a pet health and wellness company. It provides 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. The company offers pet prescription medications, including products for arthritis, thyroid, and diabetes and pain treatments, as well as heartworm preventatives, antibiotics, and other specialty medications; over-the-counter medications and supplies, such as flea and tick control products in various forms comprising spot on treatments, chewables, and collars; and health and wellness products consisting of specialty treats and other pet products, which include dental treats and nutritional supplements.
Read More: Leveraged Buyout (LBO)
Receive News & Ratings for PetIQ Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PetIQ and related companies with MarketBeat.com's FREE daily email newsletter.