Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Petco Health and Wellness (NASDAQ: WOOF) has a consensus analyst rating of "Hold" from 11 brokerages, with one sell, eight hold, and two buy ratings. The average 12-month price target is about $3.89.
• Several analysts recently adjusted their views, including Goldman Sachs cutting the stock to neutral, Citigroup lowering its target to $3.25, and Weiss Ratings reaffirming a sell rating. Wall Street Zen was a recent outlier, upgrading Petco from hold to buy.
• The stock traded around $2.66 on Friday, near its recent moving averages and well below its 52-week high of $4.51. Insider and institutional activity has been mixed, with insider Holly May selling 200,000 shares while several hedge funds added or initiated positions.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) has earned a consensus recommendation of "Hold" from the eleven brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.8850.

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Petco Health and Wellness in a research report on Thursday, June 11th. The Goldman Sachs Group lowered shares of Petco Health and Wellness from a "buy" rating to a "neutral" rating and set a $3.83 price objective on the stock. in a research report on Monday, April 13th. Citigroup reduced their target price on shares of Petco Health and Wellness from $4.00 to $3.25 and set a "neutral" rating for the company in a report on Thursday, June 4th. Wall Street Zen raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Saturday, July 4th. Finally, Zacks Research lowered shares of Petco Health and Wellness from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 18th.

Petco Health and Wellness Stock Down 0.4%

NASDAQ:WOOF opened at $2.66 on Friday. The stock has a 50-day simple moving average of $2.68 and a 200 day simple moving average of $2.75. Petco Health and Wellness has a 52-week low of $2.24 and a 52-week high of $4.51. The company has a market cap of $860.14 million, a PE ratio of 133.07, a PEG ratio of 3.10 and a beta of 1.54. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.29 and a current ratio of 0.85.

Insider Buying and Selling at Petco Health and Wellness

In related news, insider Holly May sold 200,000 shares of Petco Health and Wellness stock in a transaction dated Thursday, July 9th. The stock was sold at an average price of $2.54, for a total value of $508,000.00. Following the sale, the insider owned 1,327,867 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. In the last three months, insiders sold 450,000 shares of company stock valued at $1,145,500. 6.50% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of WOOF. Bank of America Corp DE increased its position in shares of Petco Health and Wellness by 6.7% during the 1st quarter. Bank of America Corp DE now owns 269,589 shares of the company's stock worth $749,000 after purchasing an additional 16,825 shares during the last quarter. Amundi acquired a new stake in shares of Petco Health and Wellness in the 1st quarter valued at approximately $54,000. Renaissance Technologies LLC bought a new position in shares of Petco Health and Wellness in the first quarter valued at $1,455,000. Arrowstreet Capital Limited Partnership acquired a new position in Petco Health and Wellness during the first quarter worth $527,000. Finally, Sei Investments Co. raised its position in Petco Health and Wellness by 36.3% during the first quarter. Sei Investments Co. now owns 149,391 shares of the company's stock worth $415,000 after acquiring an additional 39,762 shares in the last quarter.

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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