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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Pets At Home Group Plc | PETS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 5.20 | 1.84% | 287.80 | 16:35:25 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 279.20 | 279.20 | 289.20 | 287.80 | 282.60 |
| Industry Sector |
|---|
| GENERAL RETAILERS |
| Top Posts |
|---|
Posted at 25/5/2023 17:08 by bobberoonie1 The larger investors seem assured as Norbel increased its holding by another 1% |
Posted at 28/11/2022 16:36 by yump 130mln pretax will be about 26p earnings, so not that far off a p/e of 10 for the year. Certainly not overblown as it was at 500p, but depends a lot on forward statement I guess. This year has already had difficulties in costs, energy etc. so perhaps that's in the price to a large extent.Doesn't look a confident chart though, given its an indication of what investors are doing. |
Posted at 25/5/2022 10:06 by cirlbunting1 You would rather have it held in treasury… 2 main reasons.1) Funding for future investments (acquisitions) or reduce dilution via LTIPs 2) Balance equity so net asset value is not impacted As an investor, when a stock is down quite significantly, I would rather a company buy back shares than issue dividends. For me it’s 3 main reasons. 1) I don’t want to be double taxed (I get this will vary depending on the investors age). 2) Buyback at the bottom as opposed to the top > shows great capital allocation esp if stock compensations are not linked to buybacks (i.e., EPS figs, P/Es etc). 3) Boosts return on cap ratios (ROIC, ROE, ROA etc.) What you don’t want to see is insider selling when buybacks do happen. That would be a major red flag. Anyways, that’s just a summary. |
Posted at 25/5/2022 07:59 by cirlbunting1 Hangman, buybucks will likely lure in potential investors who stock screen. At these lvls, it makes more sense to me personally. |
Posted at 25/5/2022 07:31 by saurish FY results RNS not showing up on any of the sites but published and available on PETS investor website. |
Posted at 03/12/2020 10:25 by chiefbrody I wonder if PETS recent corporate affairs has spooked a few investors. |
Posted at 25/11/2020 16:12 by hazl If you look at the above you will see a quote whereMr Pritchard stated that investors had started to realise what a good company Pets at home is. He said that there is more to go for the company. |
Posted at 31/7/2020 17:50 by crystball Yes, an excellent day. An unexpected bonus. I have had time to listen to the analyst and investor conference call and was very impressed with what was explained and the answers to the questions. |
Posted at 13/5/2020 13:11 by skinny Fortuitous that Merian Global Investors were able to increase their holding by 1.06% on the back of yesterday's 'Upgrade'! |
Posted at 12/5/2020 12:31 by pstick Seems like it is being targeted by a short seller. Although for some reason, I can't find the full report on their website. It would be interesting to see the full analysis. They may be onto something, lots of hedge funds have shorted this stock in the recent years.Bonitas is Short Pets At Home (London: PETS) UK Companies House filings revealed that Pets At Home Group Plc (London: PETS) lied about GBP 34 million of undisclosed trading loans hidden from its balance sheet used to support circular payments from PETS Vet Group Joint Ventures (“PETS JVs”) which we believe artificially inflated PETS reported profits. Including undisclosed trading balances, PETS’ actual funding, trading and operating (“FTO”) loan balances owed by PETS JVs were GBP 74 million and GBP 64 million as of FYE’18 and FYE’19, 87% and 51% greater than what PETS reported in its FY’19 Annual Report. Without these loans, PETS JVs would not have been able to pay PETS service fees and rents. The circular payment scheme had a significant impact on PETS’ purported profitability. PETS recognized 50%+ operating margins on PETS JV service fees versus 8% for its retail segment. While accounting for only 6% of PETS revenues, PETS JV service fees accounted for 31% of PETS’ operating profits. We reviewed over 1,800 annual reports for 432 individual PETS JVs between FY’15 and FY’19 available for free online via UK Companies House filings. Most PETS JVs were loss-making and drowning in liabilities. In FY’18, while PETS generated GBP 27 million operating profits from PETS JV service fees, PETS JVs generated aggregate losses of GBP 14 million. PETS JVs revealed aggregate liabilities of GBP 170 million as of FYE’19. Recently PETS actively restructured some PETS JVs via step-up acquisitions and in each instance PETS assumed all PETS JV liabilities. PETS’ restructuring efforts have already cost GBP 40+ million in write-offs and expenses from 55 PETS JV step-up acquisitions as of FYE’19. As PETS JVs sink deeper into debt, we anticipate that PETS will be forced to bail out and write off additional PETS JVs. Below are additional highlights from our review of operating PETS JV annual reports: • 253 (61%) generated aggregate losses of GBP 27 million in FY’18. • 108 (26%) had adminstrative expenses that exceeded revenues in FY’18. • 283 (69%) were balance sheet insolvent with aggregate net liabilities of GBP 100 million as of FYE’19. • 60 (15%) had net liabilities that exceeded GBP 500,000 as of FYE’19 (not including 19 additional PETS JVs that were bought back and written off by PETS in FY’19). PETS charged PETS JVs service fees and rents only afforded with concurrent financial support. If PETS cannot continue to provide such a significant level of financial support to PETS JVs, the scheme collapses. PETS’ FYE’19 balance sheet held GBP 395 million goodwill largely attributable to the future cash flow generating ability of PETS JVs and reported a contingent liability of GBP 11 million, only 17% of what PETS JVs owed third party banks. To us, the evidence is clear that PETS lied to investors about the level of financial support given to PETS JVs which artificially inflated PETS’ reported profitability and understated its liabilities. We believe a restatement of PETS’ financial performance would include adjustments to goodwill, increased recognized exposure to PETS JV bank debt and further write-offs of direct loans to PETS JVs. As investors consider PETS’ hidden liabilities, its low earnings quality from circular payments and inflated carrying balances for certain assets, we think PETS’ stock price could break previous lows with a downside of 75%+. |
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