Metropolitan Life Insurance Co. NY Grows Holdings in PetIQ Inc (PETQ)

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Metropolitan Life Insurance Co. NY grew its holdings in shares of PetIQ Inc (NASDAQ:PETQ) by 558.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,647 shares of the company’s stock after buying an additional 4,790 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in PetIQ were worth $133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Rehmann Capital Advisory Group purchased a new stake in PetIQ during the third quarter worth approximately $55,000. Bank of Montreal Can boosted its stake in shares of PetIQ by 2,007.8% in the fourth quarter. Bank of Montreal Can now owns 1,623 shares of the company’s stock valued at $38,000 after purchasing an additional 1,546 shares during the period. Citigroup Inc. boosted its stake in shares of PetIQ by 43.5% in the fourth quarter. Citigroup Inc. now owns 1,827 shares of the company’s stock valued at $43,000 after purchasing an additional 554 shares during the period. MetLife Investment Advisors LLC purchased a new position in shares of PetIQ in the third quarter valued at $330,000. Finally, American International Group Inc. boosted its stake in shares of PetIQ by 40.3% in the fourth quarter. American International Group Inc. now owns 10,372 shares of the company’s stock valued at $243,000 after purchasing an additional 2,978 shares during the period. Institutional investors own 84.33% of the company’s stock.

PETQ has been the subject of several analyst reports. Jefferies Financial Group restated a “buy” rating and issued a $39.00 target price on shares of PetIQ in a research note on Tuesday, January 15th. BidaskClub downgraded shares of PetIQ from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 9th. ValuEngine upgraded shares of PetIQ from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Raymond James decreased their target price on shares of PetIQ from $42.00 to $39.00 and set an “outperform” rating for the company in a research note on Monday, March 4th. Finally, Zacks Investment Research downgraded shares of PetIQ from a “hold” rating to a “strong sell” rating in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $43.40.

Shares of PETQ stock opened at $30.59 on Friday. The firm has a market capitalization of $862.09 million, a PE ratio of 24.47, a PEG ratio of 1.46 and a beta of 2.26. The company has a quick ratio of 1.80, a current ratio of 3.24 and a debt-to-equity ratio of 0.34. PetIQ Inc has a twelve month low of $17.56 and a twelve month high of $43.93.

PetIQ (NASDAQ:PETQ) last announced its earnings results on Monday, March 11th. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The firm had revenue of $111.02 million during the quarter, compared to analysts’ expectations of $98.72 million. PetIQ had a negative net margin of 0.15% and a positive return on equity of 8.53%. On average, research analysts predict that PetIQ Inc will post 0.87 EPS for the current year.

In related news, insider Will Santana sold 20,000 shares of the company’s stock in a transaction on Wednesday, February 13th. The shares were sold at an average price of $29.11, for a total value of $582,200.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 124,400 shares of company stock worth $3,621,216 over the last ninety days. 45.26% of the stock is currently owned by corporate insiders.

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About PetIQ

PetIQ, Inc operates as a pet health and wellness company. It operates through two segments, Products and Services. It manufactures and distributes veterinarian services and veterinarian-grade pet products, including prescription (Rx) medications, over-the-counter (OTC) flea and tick preventatives, and health and wellness products for dogs and cats.

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Institutional Ownership by Quarter for PetIQ (NASDAQ:PETQ)

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