Applied Fundamental Research LLC Has $13.77 Million Stake in PetIQ, Inc. (NASDAQ:PETQ)

Applied Fundamental Research LLC trimmed its position in PetIQ, Inc. (NASDAQ:PETQ) by 1.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 624,076 shares of the company’s stock after selling 9,454 shares during the quarter. PetIQ comprises approximately 10.1% of Applied Fundamental Research LLC’s portfolio, making the stock its 6th largest holding. Applied Fundamental Research LLC’s holdings in PetIQ were worth $13,767,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PETQ. Swiss National Bank bought a new stake in PetIQ in the 4th quarter valued at about $1,080,000. Dimensional Fund Advisors LP increased its position in 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 buying an additional 132,450 shares in the last quarter. Campbell & CO Investment Adviser LLC increased its position in 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 buying an additional 8,083 shares in the last quarter. Nomura Holdings Inc. increased its holdings in PetIQ by 7.1% during the 4th quarter. Nomura Holdings Inc. now owns 423,496 shares of the company’s stock worth $8,364,000 after purchasing an additional 28,231 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in PetIQ by 11.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,036,292 shares of the company’s stock worth $20,467,000 after purchasing an additional 108,870 shares in the last quarter. 94.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on PETQ shares. Truist Financial lowered PetIQ from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $30.00 to $31.00 in a report on Thursday, August 8th. William Blair downgraded PetIQ from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PetIQ presently has an average rating of “Moderate Buy” and an average price target of $29.67.

PetIQ Stock Performance

NASDAQ PETQ opened at $30.74 on Monday. The company has a quick ratio of 1.68, a current ratio of 2.58 and a debt-to-equity ratio of 1.68. The company has a 50-day simple moving average of $27.49 and a two-hundred day simple moving average of $22.10. The firm has a market cap of $914.58 million, a price-to-earnings ratio of 139.73 and a beta of 1.73. PetIQ, Inc. has a 12-month low of $15.09 and a 12-month high of $30.84.

PetIQ (NASDAQ:PETQ) last posted its earnings results on Wednesday, August 7th. The company reported $0.70 earnings per share for the quarter, topping 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 company had revenue of $328.90 million during the quarter, compared to analyst estimates of $330.14 million. During the same period in the prior year, the business posted $0.37 earnings per share. PetIQ’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities analysts forecast that PetIQ, Inc. will post 1.12 EPS for the current year.

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.