Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) Receives Average Rating of "Hold" from Brokerages

Key Points

• Analyst sentiment is neutral: Petco has a consensus “Hold” rating from 11 analysts, with eight holds, two buys and one sell. The average 12-month price target is $3.885.
• Recent rating changes were mixed: Zacks Research downgraded the stock to “Hold,” Citigroup reduced its price target to $3.25, while Wall Street Zen upgraded shares to “Buy.”
• Insider selling contrasts with institutional buying: Insider Holly May sold 200,000 shares for $508,000, while several hedge funds and institutions increased their positions during the first quarter.

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) have been assigned a consensus rating of "Hold" from the eleven analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $3.8850.

A number of equities research analysts recently weighed in on the stock. Zacks Research lowered shares of Petco Health and Wellness from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Weiss Ratings reiterated a "sell (d)" rating on shares of Petco Health and Wellness in a report on Thursday, June 11th. Citigroup cut their price target 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. Finally, 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.

Insider Activity at Petco Health and Wellness

In related news, insider Holly May sold 200,000 shares of Petco Health and Wellness stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $2.54, for a total value of $508,000.00. Following the completion of the sale, the insider directly owned 1,327,867 shares in the company, valued at $3,372,782.18. This trade represents a 13.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders have sold 450,000 shares of company stock valued at $1,145,500. Company insiders own 6.50% of the company's stock.

Hedge Funds Weigh In On Petco Health and Wellness

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. acquired a new position in Petco Health and Wellness in the 1st quarter worth approximately $3,883,000. Dimensional Fund Advisors LP raised its position in shares of Petco Health and Wellness by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,111,061 shares of the company's stock worth $28,107,000 after acquiring an additional 655,567 shares during the period. Arrowstreet Capital Limited Partnership acquired a new position in Petco Health and Wellness in the 1st quarter worth about $527,000. Bleakley Financial Group LLC raised its stake in shares of Petco Health and Wellness by 24.6% during the 1st quarter. Bleakley Financial Group LLC now owns 245,656 shares of the company's stock worth $683,000 after buying an additional 48,463 shares during the period. Finally, International Assets Investment Management LLC lifted its position in shares of Petco Health and Wellness by 63.9% during the 1st quarter. International Assets Investment Management LLC now owns 12,825 shares of the company's stock valued at $35,000 after buying an additional 5,000 shares in the last quarter.

Petco Health and Wellness Trading Up 2.2%

Shares of NASDAQ WOOF opened at $2.74 on Wednesday. Petco Health and Wellness has a fifty-two week low of $2.24 and a fifty-two week high of $4.19. The company has a market cap of $886.01 million, a price-to-earnings ratio of 137.07, a PEG ratio of 3.11 and a beta of 1.54. The business's 50 day moving average price is $2.70 and its 200-day moving average price is $2.73. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.29 and a current ratio of 0.85.

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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