Allspring Global Investments Holdings LLC Has $1.35 Million Stock Position in PetIQ, Inc. (NASDAQ:PETQ)

Allspring Global Investments Holdings LLC cut its stake in shares of PetIQ, Inc. (NASDAQ:PETQ) by 14.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 68,473 shares of the company’s stock after selling 11,749 shares during the period. Allspring Global Investments Holdings LLC owned about 0.23% of PetIQ worth $1,352,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. FinTrust Capital Advisors LLC acquired a new position in PetIQ in the 3rd quarter worth about $34,000. DekaBank Deutsche Girozentrale acquired a new position in shares of PetIQ in the fourth quarter valued at approximately $50,000. China Universal Asset Management Co. Ltd. raised its holdings 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 buying an additional 2,625 shares during the last quarter. UBS Group AG boosted its position in PetIQ by 0.9% during the 3rd quarter. UBS Group AG now owns 400,488 shares of the company’s stock worth $7,890,000 after buying an additional 3,382 shares during the period. Finally, SG Americas Securities LLC grew its holdings in PetIQ by 75.1% during the 4th quarter. SG Americas Securities LLC now owns 10,054 shares of the company’s stock worth $199,000 after acquiring an additional 4,311 shares during the last quarter. 94.99% of the stock is currently owned by institutional investors.

PetIQ Price Performance

PetIQ stock opened at $16.51 on Tuesday. The stock’s 50 day moving average is $17.41 and its 200 day moving average is $18.31. PetIQ, Inc. has a one year low of $11.26 and a one year high of $22.98. The firm has a market cap of $485.89 million, a P/E ratio of 275.21 and a beta of 1.64. The company has a debt-to-equity ratio of 1.97, a current ratio of 2.27 and a quick ratio of 1.43.

PetIQ (NASDAQ:PETQ) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.38) by $0.22. PetIQ had a net margin of 0.19% and a return on equity of 11.72%. The firm had revenue of $219.93 million for the quarter, compared to the consensus estimate of $189.70 million. As a group, research analysts expect that PetIQ, Inc. will post 0.94 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group raised their price target on shares of PetIQ from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Tuesday, March 19th. Four investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $29.00.

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.