PetIQ, Inc. (NASDAQ:PETQ) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in shares of PetIQ, Inc. (NASDAQ:PETQ) by 123.1% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 83,898 shares of the company’s stock after buying an additional 46,299 shares during the period. Principal Financial Group Inc.’s holdings in PetIQ were worth $1,851,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Tributary Capital Management LLC acquired a new position in PetIQ in the 2nd quarter valued at $11,414,000. Assenagon Asset Management S.A. purchased a new stake in shares of PetIQ in the second quarter valued at $3,164,000. Dimensional Fund Advisors LP grew its position in shares of PetIQ by 13.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,086,625 shares of the company’s stock valued at $21,461,000 after purchasing an additional 132,450 shares during the period. Goldman Sachs Group Inc. increased its stake in PetIQ by 11.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock valued at $20,467,000 after purchasing an additional 108,870 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its position in PetIQ by 243.8% during the first quarter. Acadian Asset Management LLC now owns 151,945 shares of the company’s stock worth $2,777,000 after buying an additional 107,752 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

PetIQ Price Performance

PETQ stock opened at $30.66 on Friday. The company has a market cap of $912.20 million, a PE ratio of 139.36 and a beta of 1.73. The company has a current ratio of 2.58, a quick ratio of 1.68 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average price of $26.48 and a two-hundred day moving average price of $21.49. PetIQ, Inc. has a 12-month low of $15.09 and a 12-month high of $30.77.

PetIQ (NASDAQ:PETQ) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.20. The business had revenue of $328.90 million for the quarter, compared to analyst estimates of $330.14 million. PetIQ had a return on equity of 18.75% and a net margin of 1.20%. The company’s revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. As a group, research analysts predict that PetIQ, Inc. will post 1.05 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have commented on PETQ. William Blair cut PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. Truist Financial downgraded shares of PetIQ from a “buy” rating to a “hold” rating and boosted their target price for the company from $30.00 to $31.00 in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.67.

About PetIQ

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.