Vanguard Group Inc. Buys 682,099 Shares of Petco Health and Wellness Company, Inc. $WOOF

Key Points

• Vanguard Group Inc. increased its stake in Petco Health and Wellness by 8.5%, acquiring 682,099 shares to own approximately 2.76% of the company, valued at $26.5 million.
• Petco's latest earnings report showed an EPS of $0.05, surpassing expectations of $0.02, but with a 2.3% revenue decline compared to last year.
• Analysts have a mixed outlook on Petco's stock, with an average price target of $3.75 and ratings ranging from Buy to Hold.

Vanguard Group Inc. lifted its position in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) by 8.5% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,691,631 shares of the company's stock after purchasing an additional 682,099 shares during the quarter. Vanguard Group Inc. owned about 2.76% of Petco Health and Wellness worth $26,509,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its stake in Petco Health and Wellness by 269.8% during 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 last quarter. Bridgeway Capital Management LLC purchased a new position in Petco Health and Wellness during the fourth quarter valued at $8,604,000. Driehaus Capital Management LLC purchased a new position in Petco Health and Wellness during the fourth quarter valued at $6,887,000. Nuveen Asset Management LLC raised its stake in Petco Health and Wellness by 513.6% during the fourth quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company's stock valued at $8,009,000 after buying an additional 1,759,570 shares during the last quarter. Finally, Point72 Asset Management L.P. raised its stake in Petco Health and Wellness by 62.0% during the fourth quarter. Point72 Asset Management L.P. now owns 2,412,697 shares of the company's stock valued at $9,192,000 after buying an additional 923,735 shares during the last quarter.

Petco Health and Wellness Stock Performance

Shares of WOOF traded up $0.76 during trading hours on Monday, hitting $3.99. The stock had a trading volume of 23,259,005 shares, compared to its average volume of 4,104,118. 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. The firm has a market capitalization of $1.26 billion, a PE ratio of -39.90 and a beta of 1.74. The stock has a fifty day moving average price of $3.19 and a 200 day moving average price of $3.05.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last issued its quarterly earnings data on Thursday, August 28th. The company reported $0.05 EPS for the quarter, topping 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 company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Petco Health and Wellness's revenue was down 2.3% compared to the same quarter last year. Analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on WOOF shares. UBS Group lifted their price objective on Petco Health and Wellness from $3.25 to $3.70 and gave the company a "neutral" rating in a research note on Friday. Wells Fargo & Company lifted their price objective on Petco Health and Wellness from $3.50 to $4.00 and gave the company an "equal weight" rating in a research note on Friday. Jefferies Financial Group lifted their price objective on Petco Health and Wellness from $4.05 to $4.15 and gave the company a "hold" rating in a research note on Friday. Robert W. Baird boosted their price target on Petco Health and Wellness from $3.50 to $4.00 and gave the stock a "neutral" rating in a research note on Friday. Finally, Morgan Stanley decreased their price target 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. Three equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Petco Health and Wellness 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.