Wellington Management Group LLP Invests $1.41 Million in PetIQ, Inc. (NASDAQ:PETQ)

Wellington Management Group LLP bought a new stake in shares of PetIQ, Inc. (NASDAQ:PETQ) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 71,400 shares of the company’s stock, valued at approximately $1,410,000. Wellington Management Group LLP owned approximately 0.24% of PetIQ at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Natixis Advisors L.P. boosted its holdings in shares of PetIQ by 10.2% during the 4th quarter. Natixis Advisors L.P. now owns 12,038 shares of the company’s stock worth $237,000 after buying an additional 1,113 shares in the last quarter. DekaBank Deutsche Girozentrale acquired a new position in shares of PetIQ during the fourth quarter valued at about $50,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of PetIQ by 351.4% during the fourth 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 period. AJOVista LLC bought a new position in shares of PetIQ during the 4th quarter worth about $65,000. Finally, SG Americas Securities LLC raised its position in shares of PetIQ by 75.1% during the fourth quarter. SG Americas Securities LLC now owns 10,054 shares of the company’s stock worth $199,000 after purchasing an additional 4,311 shares during the period. Institutional investors and hedge funds own 94.99% of the company’s stock.

Insider Buying and Selling

In other PetIQ news, Director Scott Huff sold 12,117 shares of the company’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 filing with the SEC, which is available through the SEC website. 9.62% of the stock is currently owned by insiders.

PetIQ Stock Up 3.7 %

Shares of NASDAQ:PETQ opened at $22.87 on Tuesday. The company has a market capitalization of $680.43 million, a PE ratio of 103.95 and a beta of 1.76. PetIQ, Inc. has a 1 year low of $14.20 and a 1 year high of $22.98. The company has a debt-to-equity ratio of 1.84, a current ratio of 2.42 and a quick ratio of 1.25. The business has a fifty day moving average price of $19.94 and a two-hundred day moving average price of $18.64.

PetIQ (NASDAQ:PETQ) last posted its quarterly earnings data on Wednesday, May 8th. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.34 by $0.17. PetIQ had a return on equity of 13.33% and a net margin of 0.66%. The business had revenue of $308.44 million for the quarter, compared to the consensus estimate of $302.16 million. Analysts forecast that PetIQ, Inc. will post 1.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Benchmark restated a “buy” rating and issued a $30.00 target price on shares of PetIQ in a report on Friday, May 10th. Jefferies Financial Group increased their target price on shares of PetIQ from $24.00 to $28.00 and gave the company a “buy” rating in a report on Tuesday, March 19th. Four equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, PetIQ has an average rating of “Buy” and an average price target of $29.00.

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.