Solas Capital Management LLC Buys New Shares in Petco Health and Wellness Company, Inc. $WOOF

Key Points

• Solas Capital Management LLC acquired 3,000,000 shares of Petco Health and Wellness Company, Inc., valued at approximately $9.15 million, making it the firm's 8th largest holding.
• Petco's stock has experienced volatility, with a 12-month low of $2.28 and a high of $6.29, currently trading at $3.99.
• Analysts have a mixed outlook on the stock, with an average price target of $3.95 and multiple ratings of "hold" and "neutral."

Solas Capital Management LLC bought a new position in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,000,000 shares of the company's stock, valued at approximately $9,150,000. Petco Health and Wellness makes up approximately 5.1% of Solas Capital Management LLC's portfolio, making the stock its 8th largest holding. Solas Capital Management LLC owned 0.95% of Petco Health and Wellness as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WOOF. Barclays PLC increased its position in Petco Health and Wellness by 6.0% during the 4th quarter. Barclays PLC now owns 229,599 shares of the company's stock valued at $874,000 after buying an additional 13,035 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Petco Health and Wellness by 269.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company's stock valued at $12,354,000 after buying an additional 2,365,654 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Petco Health and Wellness by 203.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 25,110 shares of the company's stock valued at $96,000 after buying an additional 16,840 shares in the last quarter. Northern Trust Corp increased its position in Petco Health and Wellness by 4.9% during the 4th quarter. Northern Trust Corp now owns 789,457 shares of the company's stock valued at $3,008,000 after buying an additional 36,557 shares in the last quarter. Finally, Algert Global LLC increased its position in Petco Health and Wellness by 94.0% during the 4th quarter. Algert Global LLC now owns 108,823 shares of the company's stock valued at $415,000 after buying an additional 52,738 shares in the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. UBS Group increased their target price on Petco Health and Wellness from $3.25 to $3.70 and gave the company a "neutral" rating in a research note on Friday, August 29th. Morgan Stanley cut their target price on Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating on the stock in a research note on Friday, June 6th. Wells Fargo & Company increased their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the company an "equal weight" rating in a research note on Friday, August 29th. Robert W. Baird increased their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the company a "neutral" rating in a research note on Friday, August 29th. Finally, Jefferies Financial Group raised their price target on Petco Health and Wellness from $4.05 to $4.15 and gave the stock a "hold" rating in a research note on Friday, August 29th. Three analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $3.95.

Petco Health and Wellness Stock Performance

Shares of WOOF stock traded up $0.12 on Thursday, reaching $3.43. The stock had a trading volume of 2,702,746 shares, compared to its average volume of 4,383,938. The stock has a market cap of $1.08 billion, a P/E ratio of -34.25 and a beta of 1.74. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.25 and a current ratio of 0.89. The company has a 50 day simple moving average of $3.24 and a 200 day simple moving average of $3.07. Petco Health and Wellness Company, Inc. has a 1 year low of $2.28 and a 1 year high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last released its earnings results on Thursday, August 28th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.03. The company had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.49 billion. Petco Health and Wellness had a negative return on equity of 1.71% and a negative net margin of 0.47%.Petco Health and Wellness's quarterly revenue was down 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.02) earnings per share. Equities research analysts expect that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current year.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc, operates as a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners in the United States, Mexico, and Puerto Rico. The company provides veterinary care, grooming, training, tele-health, and Vital Care and pet health insurance services, as well as veterinary services through Vetco mobile clinics.