Among the underlying components of the Russell 3000 index, we saw noteworthy options trading volume today in PetMed Express Inc , where a total of 711 contracts have traded so far, representing approximately 71,100 underlying shares. That amounts to about 47.5% of PETS's average daily trading volume over the past month of 149,835 shares.
Upcoming earnings could be the catalyst for a PETS move higher.
While we didn't add any new names this week, we did use recent weakness in AT&T shares to build that position further.
An analysis of the data and what it means for the portfolio.
In the first week of the fourth quarter we continued our strategy of using stock-specific weakness to grow positions while improving our cost basis by adding to 2 names.
As we close out September and the third quarter we have ample 'fire power' to continue improving the cost basis of current holdings and initiate new positions.
The model portfolio had a number of strong performers this week as the market welcomed the Fed's lack of action with open arms.
It's time to put this incremental cash to work.
The stock has held firm above support.
Most of the portfolio got caught in this week's downdraft, though we used weakness to add to our position in Sherwin-Williams.
We added no positions this week, although we scaled up our position sizes in both Costco Wholesale and United Parcel Service.
We eliminated our position in Fortive but bulked up our stakes in recent newbies Sherwin-Williams and Whirlpool and added Nike to the portfolio.
The bull flag is ideal for those who want to increase their position.
This week Whirlpool jumped into the portfolio pool, where it joined recent additions Sherwin-Williams and International Flavors & Fragrances.
This week we promoted International Flavors & Fragrances from the Bullpen and added it to our active portfolio, where it joined recent newbie Sherwin-Williams.
TheStreet's Jim Cramer says the humanization of pets is a growing investment opportunity.
The humanization of pets has sent spending soaring, which has some pet-related stock seeing major benefits.
We welcomed paint maker Sherwin-Williams into the Trifecta portfolio fold this week.
Looking at the universe of stocks we cover at Dividend Channel, on 8/4/16, PetMed Express Inc will trade ex-dividend, for its quarterly dividend of $0.19, payable on 8/19/16. As a percentage of PETS's recent stock price of $20.85, this dividend works out to approximately 0.91%, so look for shares of PetMed Express Inc to trade 0.91% lower — all else being equal — when PETS shares open for trading on 8/4/16.
Favorable results from Alphabet and PetMed Express led us to raise our price targets on those stocks.
PETS has been a winner for the portfolio and a pullback would set up a nice buying opportunity.
At best, the stock should be priced at around $18, or 12% lower.
We suspect Wall Street will be boosting its expectations for the back half of 2016.
In a week that saw the market continue to rise and several strong performers in the portfolio, we exited one position and trimmed another.
Cramer is faithful to pet care drug maker Zoetis and he prefers Danaher over its split-off sibling Fortive.
Johnson & Johnson was easy, Cramer says, but other stocks were more problematic.
Most of our portfolio names did well, though we did downgrade AT&T and Costco to Twos from Ones because of the moves higher in their shares in recent weeks.
