Bridgeway Capital Management LLC Raises Position in Petco Health and Wellness Company, Inc. $WOOF

Key Points

• Bridgeway Capital Management LLC increased its holdings in Petco by 11.2%, acquiring an additional 252,653 shares, bringing its total to approximately 2.51 million shares valued at $7.66 million.
• Multiple hedge funds, including Dimensional Fund Advisors LP and Tower Research Capital LLC, have significantly increased their stakes in Petco, indicating growing institutional interest in the company.
• Petco's stock currently holds an average rating of "Hold" from analysts with a target price averaging around $3.95, reflecting mixed sentiments in the market.

Bridgeway Capital Management LLC boosted its position in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) by 11.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,510,897 shares of the company's stock after acquiring an additional 252,653 shares during the quarter. Bridgeway Capital Management LLC owned 0.80% of Petco Health and Wellness worth $7,658,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of Petco Health and Wellness by 269.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company's stock valued at $12,354,000 after purchasing an additional 2,365,654 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in Petco Health and Wellness by 203.6% in the fourth 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 lifted its holdings 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 worth $3,008,000 after buying an additional 36,557 shares during the last quarter. Algert Global LLC boosted its position in shares of Petco Health and Wellness by 94.0% during the 4th quarter. Algert Global LLC now owns 108,823 shares of the company's stock worth $415,000 after acquiring an additional 52,738 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of Petco Health and Wellness in the 4th quarter valued at about $1,428,000.

Petco Health and Wellness Stock Performance

Shares of NASDAQ:WOOF traded down $0.04 on Wednesday, reaching $3.62. The company's stock had a trading volume of 1,292,739 shares, compared to its average volume of 4,362,609. Petco Health and Wellness Company, Inc. has a 52-week low of $2.28 and a 52-week high of $6.29. The stock has a market capitalization of $1.15 billion, a P/E ratio of -36.05 and a beta of 1.74. The stock's 50-day moving average is $3.31 and its two-hundred day moving average is $3.08. The company has a debt-to-equity ratio of 1.39, a current ratio of 0.89 and a quick ratio of 0.31.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on WOOF shares. Morgan Stanley decreased their target price on Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating for the company in a research note on Friday, June 6th. Wells Fargo & Company boosted their price objective on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the stock an "equal weight" rating in a research report on Friday, August 29th. Royal Bank Of Canada restated an "outperform" rating and issued a $4.00 target price on shares of Petco Health and Wellness in a report on Wednesday, September 3rd. Guggenheim reiterated a "neutral" rating on shares of Petco Health and Wellness in a research note on Tuesday, September 2nd. Finally, Wall Street Zen upgraded shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $3.95.

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.