Renaissance Technologies LLC Acquires Shares of 523,495 Petco Health and Wellness Company, Inc. $WOOF

Key Points

• Renaissance Technologies initiated a stake of 523,495 Petco shares in the first quarter, valued at approximately $1.46 million and representing about 0.16% of the company.
• Analyst sentiment remains mixed: Petco has an average “Hold” rating and an average price target of $3.88, with recent target reductions and rating downgrades alongside one upgrade to “Buy.”
• Petco shares opened at $2.73, near their 50-day and 200-day moving averages, while insider Holly May sold 200,000 shares; insiders have sold 450,000 shares over the past 90 days.

Renaissance Technologies LLC acquired a new stake in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 523,495 shares of the company's stock, valued at approximately $1,455,000. Renaissance Technologies LLC owned approximately 0.16% of Petco Health and Wellness as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of WOOF. Caitong International Asset Management Co. Ltd grew its position in Petco Health and Wellness by 425.1% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 10,523 shares of the company's stock valued at $30,000 after purchasing an additional 8,519 shares during the period. Abel Hall LLC acquired a new position in shares of Petco Health and Wellness during the fourth quarter valued at about $31,000. Cibc World Market Inc. bought a new stake in shares of Petco Health and Wellness during the fourth quarter worth about $32,000. HB Wealth Management LLC acquired a new stake in shares of Petco Health and Wellness in the 1st quarter worth about $34,000. Finally, Quantbot Technologies LP acquired a new stake in shares of Petco Health and Wellness in the 3rd quarter worth about $34,000.

Analysts Set New Price Targets

A number of research firms have issued reports on WOOF. Wall Street Zen upgraded Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Citigroup dropped their target price on Petco Health and Wellness from $4.00 to $3.25 and set a "neutral" rating on the stock in a report on Thursday, June 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Petco Health and Wellness in a report on Thursday, June 11th. Finally, Zacks Research lowered shares of Petco Health and Wellness from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Petco Health and Wellness presently has an average rating of "Hold" and an average price target of $3.88.

Insider Buying and Selling

In other Petco Health and Wellness news, insider Holly May sold 200,000 shares of the business's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $2.54, for a total value of $508,000.00. Following the transaction, the insider directly owned 1,327,867 shares in the company, valued at $3,372,782.18. The trade was a 13.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 450,000 shares of company stock valued at $1,145,500 over the last 90 days. Insiders own 6.50% of the company's stock.

Petco Health and Wellness Trading Down 0.4%

NASDAQ WOOF opened at $2.73 on Thursday. The stock has a market capitalization of $882.77 million, a price-to-earnings ratio of 136.57, a PEG ratio of 3.18 and a beta of 1.54. Petco Health and Wellness Company, Inc. has a one year low of $2.24 and a one year high of $4.19. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.29. The business's fifty day moving average is $2.70 and its 200-day moving average is $2.73.

Petco Health and Wellness Company Profile

Petco Health and Wellness Company, Inc NASDAQ: WOOF is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.

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