Empowered Funds LLC Purchases 252,653 Shares of Petco Health and Wellness Company, Inc. $WOOF

Key Points

• Empowered Funds LLC increased its holdings in Petco Health and Wellness by 21.3% in the first quarter, owning approximately 1.44 million shares worth $4.39 million by the end of the quarter.
• Analysts have mixed views on Petco, with a recent upgrade from a hold to a buy rating by Wall Street Zen, while others have set a consensus price target of $3.95.
• Petco's stock has underperformed, with shares trading at $3.46 and a -2.3% year-over-year revenue decline reported in their most recent earnings announcement.

Empowered Funds LLC grew its position in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) by 21.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,437,897 shares of the company's stock after acquiring an additional 252,653 shares during the period. Empowered Funds LLC owned 0.46% of Petco Health and Wellness worth $4,386,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of WOOF. Northern Trust Corp increased its holdings in shares of Petco Health and Wellness by 4.9% in the fourth quarter. Northern Trust Corp now owns 789,457 shares of the company's stock valued at $3,008,000 after purchasing an additional 36,557 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in Petco Health and Wellness during the 4th quarter worth $1,428,000. Bank of America Corp DE grew its holdings in Petco Health and Wellness by 13.6% during the 4th quarter. Bank of America Corp DE now owns 1,099,137 shares of the company's stock worth $4,188,000 after acquiring an additional 131,985 shares during the period. Cetera Investment Advisers bought a new position in shares of Petco Health and Wellness during the fourth quarter worth $59,000. Finally, Deutsche Bank AG boosted its position in shares of Petco Health and Wellness by 75.4% during the fourth quarter. Deutsche Bank AG now owns 71,651 shares of the company's stock worth $273,000 after purchasing an additional 30,792 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on WOOF shares. Zacks Research raised shares of Petco Health and Wellness from a "hold" rating to a "strong-buy" rating in a research note on Thursday, September 4th. Guggenheim reissued a "neutral" rating on shares of Petco Health and Wellness in a report on Tuesday, September 2nd. Jefferies Financial Group increased their price target on shares of Petco Health and Wellness from $4.05 to $4.15 and gave the company a "hold" rating in a report on Friday, August 29th. Morgan Stanley lowered their target price on shares of Petco Health and Wellness from $5.00 to $4.50 and set an "equal weight" rating on the stock in a report on Friday, June 6th. Finally, Robert W. Baird raised their target price on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the stock a "neutral" rating in a report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Petco Health and Wellness presently has an average rating of "Hold" and an average target price of $3.95.

Petco Health and Wellness Price Performance

NASDAQ:WOOF traded up $0.08 during mid-day trading on Thursday, reaching $3.55. The stock had a trading volume of 700,287 shares, compared to its average volume of 4,302,526. The stock has a 50-day simple moving average of $3.37 and a two-hundred day simple moving average of $3.11. The stock has a market capitalization of $1.13 billion, a PE ratio of -35.35 and a beta of 1.74. 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 Company, Inc. has a 12 month low of $2.28 and a 12 month high of $6.29.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its quarterly earnings data on Thursday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. Petco Health and Wellness had a negative net margin of 0.47% and a negative return on equity of 1.71%. The business had revenue of $1.49 billion for the quarter, compared to analysts' expectations of $1.49 billion. During the same period last year, the firm posted ($0.02) earnings per share. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. On average, equities analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.22 earnings per share 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.