PetIQ, Inc. (NASDAQ:PETQ) Stock Holdings Lifted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its holdings in PetIQ, Inc. (NASDAQ:PETQ) by 105.4% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 140,660 shares of the company’s stock after buying an additional 72,187 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in PetIQ were worth $2,571,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Natixis Advisors L.P. lifted its position in PetIQ by 10.2% in the 4th quarter. Natixis Advisors L.P. now owns 12,038 shares of the company’s stock valued at $237,000 after purchasing an additional 1,113 shares during the last quarter. ICA Group Wealth Management LLC bought a new stake in PetIQ in the 4th quarter valued at about $35,000. DekaBank Deutsche Girozentrale bought a new stake in PetIQ in the 4th quarter valued at about $50,000. China Universal Asset Management Co. Ltd. lifted its position in PetIQ by 351.4% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,372 shares of the company’s stock valued at $67,000 after purchasing an additional 2,625 shares during the last quarter. Finally, AJOVista LLC bought a new stake in PetIQ in the 4th quarter valued at about $65,000. 94.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PETQ shares. Benchmark reiterated a “buy” rating and issued a $30.00 price objective on shares of PetIQ in a research report on Friday, May 10th. Jefferies Financial Group lifted their price objective on shares of PetIQ from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Tuesday, March 19th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $29.00.

PetIQ Stock Down 1.2 %

PetIQ stock opened at $22.59 on Wednesday. The stock has a market cap of $672.05 million, a price-to-earnings ratio of 102.69 and a beta of 1.71. The company has a current ratio of 2.42, a quick ratio of 1.25 and a debt-to-equity ratio of 1.84. The company’s 50-day moving average price is $20.06 and its two-hundred day moving average price is $18.67. PetIQ, Inc. has a 52 week low of $14.20 and a 52 week high of $22.98.

PetIQ (NASDAQ:PETQ) last released its earnings results on Wednesday, May 8th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. The firm had revenue of $308.44 million for the quarter, compared to analysts’ expectations of $302.16 million. PetIQ had a net margin of 0.66% and a return on equity of 13.33%. On average, analysts expect that PetIQ, Inc. will post 1.1 EPS for the current fiscal year.

Insider Buying and Selling at PetIQ

In other PetIQ news, Director Scott Huff sold 12,117 shares of the firm’s stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $22.19, for a total transaction of $268,876.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 9.62% of the stock is owned by corporate insiders.

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.