Vanguard Group Inc. Acquires 226,718 Shares of PetIQ, Inc. (NASDAQ:PETQ)

Vanguard Group Inc. lifted its holdings in shares of PetIQ, Inc. (NASDAQ:PETQ - Free Report) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,918,500 shares of the company's stock after purchasing an additional 226,718 shares during the period. Vanguard Group Inc. owned about 6.52% of PetIQ worth $37,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Captrust Financial Advisors grew its stake in PetIQ by 1,149.6% in the 2nd quarter. Captrust Financial Advisors now owns 1,562 shares of the company's stock worth $26,000 after acquiring an additional 1,437 shares during the period. Eagle Bay Advisors LLC increased its stake in PetIQ by 142.9% in the second quarter. Eagle Bay Advisors LLC now owns 1,683 shares of the company's stock valued at $28,000 after purchasing an additional 990 shares during the last quarter. FinTrust Capital Advisors LLC purchased a new position in PetIQ during the third quarter worth about $34,000. Quarry LP boosted its stake in PetIQ by 29.6% in the 2nd quarter. Quarry LP now owns 2,816 shares of the company's stock worth $43,000 after buying an additional 643 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC acquired a new stake in PetIQ in the 3rd quarter worth about $95,000. 94.99% of the stock is currently owned by hedge funds and other institutional investors.

PetIQ Trading Down 2.5 %

NASDAQ PETQ traded down $0.44 during mid-day trading on Thursday, hitting $17.31. The company's stock had a trading volume of 226,363 shares, compared to its average volume of 292,054. The firm has a market capitalization of $509.45 million, a P/E ratio of 288.50 and a beta of 1.64. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.27 and a quick ratio of 1.43. PetIQ, Inc. has a 52-week low of $10.78 and a 52-week high of $22.98. The stock's fifty day simple moving average is $17.65 and its two-hundred day simple moving average is $18.53.

PetIQ (NASDAQ:PETQ - Get Free Report) last posted its earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.38) by $0.22. PetIQ had a net margin of 0.19% and a return on equity of 11.72%. The business had revenue of $219.93 million for the quarter, compared to analyst estimates of $189.70 million. Research analysts expect that PetIQ, Inc. will post 0.94 EPS for the current year.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their price objective on shares of PetIQ from $24.00 to $28.00 and gave the stock a "buy" rating in a report on Tuesday, March 19th. Four investment analysts have rated the stock with a buy rating, According to MarketBeat, PetIQ presently has an average rating of "Buy" and an average price target of $29.00.

PetIQ Profile

PetIQ, Inc operates as a pet medication and wellness company in the United States and internationally. It operates in two segments, Products and Services. The company offers Rx pet medications, which sells flea and tick control, heartworm preventatives, arthritis, thyroid, diabetes and pain treatments, antibiotics, and other specialty medications; and develops and manufactures its own proprietary value-branded products, as well as third-party branded products for dogs and cats.