Voleon Capital Management LP Acquires 837,407 Shares of Petco Health and Wellness Company, Inc. $WOOF

Key Points

• Voleon Capital Management LP increased its stake in Petco Health and Wellness by 347.6%, acquiring an additional 837,407 shares, bringing its total ownership to 1,078,322 shares valued at approximately $3.29 million.
• Several analysts have recently revised their ratings, with Zacks upgrading Petco from a "hold" to a "strong-buy", while Morgan Stanley reduced its price target from $5.00 to $4.50.
• Petco reported earnings of $0.05 EPS for the last quarter, exceeding estimates, but experienced a 2.3% decrease in year-over-year revenue, alongside a negative return on equity of 1.71%.

Voleon Capital Management LP lifted its holdings in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) by 347.6% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,078,322 shares of the company's stock after buying an additional 837,407 shares during the period. Voleon Capital Management LP owned about 0.34% of Petco Health and Wellness worth $3,289,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of WOOF. Focus Partners Advisor Solutions LLC acquired a new position in Petco Health and Wellness in the 1st quarter worth about $31,000. R Squared Ltd increased its holdings in Petco Health and Wellness by 152.7% in the 1st quarter. R Squared Ltd now owns 10,670 shares of the company's stock worth $33,000 after purchasing an additional 6,447 shares in the last quarter. Quantinno Capital Management LP acquired a new position in Petco Health and Wellness in the 4th quarter worth about $45,000. Kapitalo Investimentos Ltda acquired a new position in Petco Health and Wellness in the 1st quarter worth about $37,000. Finally, Teacher Retirement System of Texas acquired a new position in Petco Health and Wellness in the 1st quarter worth about $42,000.

Petco Health and Wellness Trading Down 6.0%

Shares of WOOF stock traded down $0.22 on Friday, hitting $3.46. The company had a trading volume of 2,344,796 shares, compared to its average volume of 4,570,637. The firm has a market cap of $1.10 billion, a P/E ratio of -34.60 and a beta of 1.74. The stock's 50-day moving average is $3.34 and its two-hundred day moving average is $3.10. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.31 and a current ratio of 0.89. Petco Health and Wellness Company, Inc. has a twelve month low of $2.28 and a twelve month high of $6.29.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Wall Street Zen raised Petco Health and Wellness from a "hold" rating to a "buy" rating in a report on Friday, September 5th. Zacks Research raised Petco Health and Wellness from a "hold" rating to a "strong-buy" rating in a report on Thursday, September 4th. Jefferies Financial Group upped their target price on Petco Health and Wellness from $4.05 to $4.15 and gave the stock a "hold" rating in a report on Friday, August 29th. Wells Fargo & Company upped their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the stock an "equal weight" rating in a report on Friday, August 29th. Finally, Robert W. Baird upped their target price on 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 equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $3.95.

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.