Connor Clark & Lunn Investment Management Ltd. Purchases 138,368 Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Petco by 10.1%, owning approximately 1.5 million shares valued at about $4.6 million as of the latest SEC filing.
• Several other institutions, including Wealth Enhancement Advisory Services LLC and Point72 Asia Singapore Pte. Ltd., have also significantly boosted their Petco shares, indicating a growing interest in the company.
• Petco recently reported a quarterly loss of ($0.04) EPS, missing analyst expectations, with revenue of $1.49 billion while forecasting an EPS of -0.22 for the current year.

Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) by 10.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,507,119 shares of the company's stock after purchasing an additional 138,368 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.48% of Petco Health and Wellness worth $4,597,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. R Squared Ltd lifted its stake in Petco Health and Wellness by 152.7% during the first quarter. R Squared Ltd now owns 10,670 shares of the company's stock valued at $33,000 after purchasing an additional 6,447 shares during the last quarter. Scotia Capital Inc. acquired a new stake in Petco Health and Wellness during the fourth quarter valued at approximately $41,000. Quantinno Capital Management LP acquired a new stake in Petco Health and Wellness during the fourth quarter valued at approximately $45,000. Kapitalo Investimentos Ltda acquired a new stake in Petco Health and Wellness during the first quarter valued at approximately $37,000. Finally, Bank of Nova Scotia acquired a new stake in Petco Health and Wellness during the fourth quarter valued at approximately $50,000.

Petco Health and Wellness Trading Down 2.3%

Shares of WOOF stock traded down $0.08 during trading hours on Friday, reaching $3.34. 1,417,572 shares of the stock traded hands, compared to its average volume of 4,139,468. Petco Health and Wellness Company, Inc. has a 1-year low of $2.28 and a 1-year high of $6.29. The business has a fifty day moving average price of $3.02 and a 200 day moving average price of $3.05. The company has a quick ratio of 0.25, a current ratio of 0.85 and a debt-to-equity ratio of 1.43. The firm has a market capitalization of $1.05 billion, a PE ratio of -13.92 and a beta of 1.72.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last released its quarterly earnings data on Thursday, June 5th. The company reported ($0.04) earnings per share 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 analyst estimates 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 firm's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.04) EPS. On average, equities research analysts forecast that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on WOOF shares. Morgan Stanley cut 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. Wells Fargo & Company boosted their price target on shares of Petco Health and Wellness from $3.00 to $3.50 and gave the company an "equal weight" rating in a report on Friday, June 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $3.75.

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.