Rhumbline Advisers Has $951,000 Holdings in PetIQ, Inc. (NASDAQ:PETQ)

Rhumbline Advisers raised its stake in PetIQ, Inc. (NASDAQ:PETQ) by 13.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 43,118 shares of the company’s stock after buying an additional 5,217 shares during the quarter. Rhumbline Advisers’ holdings in PetIQ were worth $951,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Swiss National Bank bought a new position in shares of PetIQ in the 4th quarter valued at about $1,080,000. Dimensional Fund Advisors LP boosted its stake in shares of PetIQ by 13.9% in the 4th 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 last quarter. Campbell & CO Investment Adviser LLC boosted its stake in shares of PetIQ by 24.3% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 41,377 shares of the company’s stock valued at $817,000 after purchasing an additional 8,083 shares during the last quarter. Nomura Holdings Inc. boosted its stake in shares of PetIQ by 7.1% in the 4th quarter. Nomura Holdings Inc. now owns 423,496 shares of the company’s stock valued at $8,364,000 after purchasing an additional 28,231 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its stake in shares of PetIQ by 11.7% in the 4th 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. Institutional investors and hedge funds own 94.99% of the company’s stock.

PetIQ Stock Performance

Shares of PETQ opened at $30.74 on Monday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 1.68 and a current ratio of 2.58. PetIQ, Inc. has a twelve month low of $15.09 and a twelve month high of $30.84. The firm’s 50 day moving average price is $27.49 and its two-hundred day moving average price is $22.10. The firm has a market cap of $918.82 million, a P/E ratio of 139.73 and a beta of 1.73.

PetIQ (NASDAQ:PETQ) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.20. PetIQ had a net margin of 1.20% and a return on equity of 18.75%. The firm had revenue of $328.90 million for the quarter, compared to analyst estimates of $330.14 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The business’s revenue was up 4.6% on a year-over-year basis. On average, analysts forecast that PetIQ, Inc. will post 1.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. William Blair lowered shares of PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Truist Financial lowered shares of PetIQ from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $30.00 to $31.00 in a research note on Thursday, August 8th. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $29.67.

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.