Sei Investments Co. Reduces Stock Position in PetIQ, Inc. (NASDAQ:PETQ)

Sei Investments Co. reduced its holdings in shares of PetIQ, Inc. (NASDAQ:PETQ) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 247,054 shares of the company’s stock after selling 12,261 shares during the quarter. Sei Investments Co. owned approximately 0.83% of PetIQ worth $5,450,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. CWM LLC increased its stake in PetIQ by 86.2% in the second quarter. CWM LLC now owns 1,251 shares of the company’s stock valued at $28,000 after purchasing an additional 579 shares during the last quarter. ICA Group Wealth Management LLC acquired a new position in PetIQ in the fourth quarter valued at $35,000. First Horizon Advisors Inc. purchased a new position in shares of PetIQ during the second quarter worth about $36,000. FinTrust Capital Advisors LLC increased its position in shares of PetIQ by 50.2% during the first quarter. FinTrust Capital Advisors LLC now owns 2,618 shares of the company’s stock worth $48,000 after purchasing an additional 875 shares in the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of PetIQ in the 2nd quarter valued at about $51,000. 94.99% of the stock is owned by institutional investors and hedge funds.

PetIQ Price Performance

Shares of NASDAQ PETQ opened at $30.77 on Tuesday. The company has a market cap of $919.72 million, a PE ratio of 139.87 and a beta of 1.73. The company has a debt-to-equity ratio of 1.68, a current ratio of 2.58 and a quick ratio of 1.68. PetIQ, Inc. has a 1-year low of $15.09 and a 1-year high of $30.84. The stock has a fifty day moving average price of $28.56 and a 200 day moving average price of $22.71.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $330.14 million. During the same period in the prior year, the company posted $0.37 earnings per share. The firm’s revenue for the quarter was up 4.6% on a year-over-year basis. Sell-side analysts forecast that PetIQ, Inc. will post 1.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PETQ shares. Truist Financial downgraded PetIQ from a “buy” rating to a “hold” rating and raised their price target for the stock from $30.00 to $31.00 in a research note on Thursday, August 8th. William Blair cut shares of PetIQ from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 7th. 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 company has an average rating of “Moderate Buy” and a consensus price target of $29.67.

PetIQ Company 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.