Cresset Asset Management LLC Purchases Shares of 2,516,534 Petco Health and Wellness Company, Inc. $WOOF

Key Points

• Cresset Asset Management LLC acquired 2,516,534 shares of Petco Health and Wellness, valued at approximately $7.675 million, representing an ownership stake of 0.80% as of the latest SEC filing.
• Petco's stock has dipped 2.3%, opening at $3.34 with a market cap of $1.05 billion, alongside a reported negative EPS of ($0.04) for the last quarter, falling short of analyst expectations.
• Analysts have mixed views on Petco, with a consensus rating of "Hold" and target price adjustments ranging from $3.50 to $4.50 from different financial institutions.

Cresset Asset Management LLC purchased a new stake in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,516,534 shares of the company's stock, valued at approximately $7,675,000. Cresset Asset Management LLC owned 0.80% of Petco Health and Wellness at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Quantinno Capital Management LP bought a new stake in Petco Health and Wellness during the fourth quarter valued at about $45,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Petco Health and Wellness by 40.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company's stock valued at $60,000 after buying an additional 4,526 shares during the period. BNP Paribas Financial Markets bought a new stake in shares of Petco Health and Wellness in the fourth quarter valued at about $1,428,000. Bank of America Corp DE lifted its stake in shares of Petco Health and Wellness by 13.6% in the fourth quarter. Bank of America Corp DE now owns 1,099,137 shares of the company's stock valued at $4,188,000 after buying an additional 131,985 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Petco Health and Wellness by 269.8% in the fourth 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 during the period.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on WOOF shares. Wells Fargo & Company increased their target price on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Morgan Stanley reduced their target price on shares of 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. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Petco Health and Wellness currently has a consensus rating of "Hold" and an average price target of $3.75.

Petco Health and Wellness Stock Down 2.3%

Shares of WOOF opened at $3.34 on Monday. The stock has a market cap of $1.05 billion, a price-to-earnings ratio of -13.92 and a beta of 1.72. The company has a quick ratio of 0.25, a current ratio of 0.85 and a debt-to-equity ratio of 1.43. Petco Health and Wellness Company, Inc. has a 12 month low of $2.28 and a 12 month high of $6.29. The company has a 50-day moving average price of $3.02 and a two-hundred day moving average price of $3.04.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported ($0.04) EPS for the quarter, missing analysts' consensus estimates of ($0.01) by ($0.03). The business had revenue of $1.49 billion for the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative return on equity of 4.29% and a negative net margin of 1.10%. The firm's revenue for the quarter was down 2.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.04) EPS. Equities analysts predict that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current fiscal year.

Petco Health and Wellness 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.

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