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PETS Pets At Home Group Plc

273.00
-7.00 (-2.50%)
Last Updated: 08:21:08
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Pets At Home Group Plc LSE:PETS London Ordinary Share GB00BJ62K685 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -7.00 -2.50% 273.00 18,424 08:21:08
Bid Price Offer Price High Price Low Price Open Price
276.40 279.20 273.00 273.00 273.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Misc Retail Stores, Nec 1.48B 79.2M 0.1708 16.39 1.3B
Last Trade Time Trade Type Trade Size Trade Price Currency
08:10:44 O 17,346 276.752 GBX

Pets At Home (PETS) Latest News (2)

Pets At Home (PETS) Discussions and Chat

Pets At Home Forums and Chat

Date Time Title Posts
11/11/202417:52Pets at Home -woof woof or purring?2,590

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Pets At Home (PETS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
08:10:44276.7517,34648,005.40O
08:02:40276.151,0002,761.48O
08:01:32285.4012.85O
08:01:31273.40616.40O
08:01:31273.4012.73O

Pets At Home (PETS) Top Chat Posts

Top Posts
Posted at 21/11/2024 08:20 by Pets At Home Daily Update
Pets At Home Group Plc is listed in the Misc Retail Stores, Nec sector of the London Stock Exchange with ticker PETS. The last closing price for Pets At Home was 280p.
Pets At Home currently has 463,739,394 shares in issue. The market capitalisation of Pets At Home is £1,298,470,303.
Pets At Home has a price to earnings ratio (PE ratio) of 16.39.
This morning PETS shares opened at 273p
Posted at 09/10/2024 11:49 by glenowen
What on earth is going on here? Some huge purchases at £3.90 when the offer price is £3.09?
Posted at 13/7/2024 07:16 by robertball
It's just that if the cma looks at vertical integration - pets is the least integrated out of the big 6.Mind you: they might be asked to divest
Posted at 12/7/2024 17:11 by robertball
Cma scope announced. Pets might come out of this ok
Posted at 03/6/2024 10:11 by crystball1
Is this sharp rise in share price wholly because of the write up in the FT?
Posted at 29/5/2024 11:34 by crystball1
Can anyone tell me what the dividend yield fot PETS is at the current price?
Posted at 06/3/2024 12:56 by fegger
Pets at Home is generally expensive. I buy all my cat stuff online. Much cheaper and heavy stuff delivered to home is a much more attractive proposition.
Posted at 06/3/2024 11:16 by chiefbrody
Very disappointing. Somethings up. Not even the buybacks can stop the free fall. Wider 250 recovering. Maybe news soon on the vets investigation or trading disappointing. 11% yield but irrelevant when the share price has lost 50% of its value in 2-3 year. Pre close update in a few weeks. My local Pets doesn't seem as busy now. Grim.
Posted at 01/2/2024 18:28 by crystball1
Thanks for that. Dividend cover is said to be around 1.7 which is pretty good. I think the share price fall is overdone. Exactly when the bottom is reached is anyone's guess however. I am considering buying more shares and will watch with interest on the sidelines.
Posted at 01/2/2024 15:29 by crystball1
What is the dividend yield at today's price?
Posted at 12/5/2020 11:31 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%+.
Pets At Home share price data is direct from the London Stock Exchange

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