Bank of New York Mellon Corp Has $701,000 Stock Position in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)

Key Points

• Bank of New York Mellon Corp decreased its stake in Petco Health and Wellness by 57.2%, selling 307,505 shares and holding 229,961 shares valued at approximately $701,000.
• Petco's stock is currently priced at $2.92 with a market capitalization of $920.18 million, and it has demonstrated a year-over-year revenue decrease of 2.3%.
• The company reported a loss of ($0.04) earnings per share, missing analysts' expectations, as its revenues for the quarter fell short of estimates at $1.49 billion.

Bank of New York Mellon Corp decreased its stake in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) by 57.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,961 shares of the company's stock after selling 307,505 shares during the period. Bank of New York Mellon Corp owned 0.07% of Petco Health and Wellness worth $701,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in shares of Petco Health and Wellness during the 4th quarter valued at about $25,000. Scotia Capital Inc. acquired a new position in shares of Petco Health and Wellness in the 4th quarter valued at about $41,000. Teacher Retirement System of Texas acquired a new position in shares of Petco Health and Wellness in the first quarter worth $42,000. Quantinno Capital Management LP acquired a new stake in shares of Petco Health and Wellness during the 4th quarter valued at about $45,000. Finally, Bank of Nova Scotia acquired a new stake in Petco Health and Wellness in the fourth quarter valued at approximately $50,000.

Petco Health and Wellness Trading Up 0.5%

Shares of NASDAQ WOOF traded up $0.02 during midday trading on Wednesday, reaching $3.01. 1,037,239 shares of the stock were exchanged, compared to its average volume of 4,365,341. The business has a 50-day simple moving average of $3.05 and a two-hundred day simple moving average of $3.07. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.85 and a quick ratio of 0.25. The company has a market capitalization of $946.97 million, a price-to-earnings ratio of -12.52 and a beta of 1.72. Petco Health and Wellness Company, Inc. has a 12 month low of $2.23 and a 12 month high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last posted its quarterly earnings data on Thursday, June 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative net margin of 1.10% and a negative return on equity of 4.29%. The company's revenue was down 2.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. As a group, equities research analysts expect that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Morgan Stanley cut their price objective on Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating for the company in a research report on Friday, June 6th. Wells Fargo & Company raised their target price on Petco Health and Wellness from $3.00 to $3.50 and gave the stock an "equal weight" rating in a research report on Friday, June 6th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Petco Health and Wellness currently has a consensus rating of "Hold" and a consensus target price of $3.75.

About Petco Health and Wellness

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.