Pets at Home shares snapped up by investment giant JPMorgan


One of the world’s largest investment giants has become a top shareholder in Pets at Home after a multi-million pound deal.

JPMorgan Asset Management, which is headquartered in the US, has increased its stake in the listed retailer to more than 5%.

The move makes the firm the third largest shareholder in the Cheshire-headquartered company.

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Schroder Investment Management remains the biggest institutional investor, with a stake of almost 10%.

Jupiter Asset Management is just behind with a holding of 9.85%.

The investment from JPMorgan Asset Management moves it above the likes of other shareholders Nordea Bank SA, BlackRock and Norges Bank Investment Management.

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The news come after Pets at Home announced that its profits surged by more than 80% during the first half of its financial year as its revenue jumped by over £100m.

The retailer reported group statutory pre-tax profits of £70.6m for the six months to October 7, 2021, up from the £38.9m it posted during the same period in 2020.

The company added that its revenue also increased from £574.4m to £677.6m.

At the start of November it was confirmed that chief executive Peter Pritchard is to leave the business next summer after 11 years with the firm.

Mr Pritchard joined in 2011 as commercial director and worked his way up to his current role in March 2018.


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