Petco Health and Wellness (NASDAQ:WOOF) Given New $3.50 Price Target at Wells Fargo & Company

Petco Health and Wellness (NASDAQ:WOOF - Free Report) had its target price raised by Wells Fargo & Company from $3.00 to $3.50 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

WOOF has been the topic of several other research reports. Robert W. Baird lowered their price objective on shares of Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating on the stock in a research report on Thursday, March 27th. Citigroup lowered their price target on shares of Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Wedbush lowered their price target on shares of Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating on the stock in a research report on Thursday, March 27th. Wall Street Zen raised shares of Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Finally, The Goldman Sachs Group boosted their price target on shares of Petco Health and Wellness from $4.00 to $4.48 and gave the company a "buy" rating in a research report on Thursday, March 27th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $3.75.

Petco Health and Wellness Stock Down 23.2%

Shares of NASDAQ WOOF traded down $0.84 during mid-day trading on Friday, reaching $2.78. 24,405,136 shares of the company's stock traded hands, compared to its average volume of 4,399,943. The stock has a market cap of $876.05 million, a P/E ratio of -6.95 and a beta of 1.82. The business has a 50-day simple moving average of $3.26 and a 200 day simple moving average of $3.44. Petco Health and Wellness has a 1-year low of $2.23 and a 1-year high of $6.29. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last announced its quarterly earnings data on Thursday, June 5th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03). The company had revenue of $1.49 billion during the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative return on equity of 5.40% and a negative net margin of 1.77%. The business's revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) EPS. On average, analysts expect that Petco Health and Wellness will post -0.22 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Joel D. Anderson bought 849,541 shares of the firm's stock in a transaction that occurred on Monday, March 31st. The shares were acquired at an average price of $3.03 per share, with a total value of $2,574,109.23. Following the acquisition, the chief executive officer now owns 853,304 shares of the company's stock, valued at approximately $2,585,511.12. The trade was a 22,576.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 2.40% of the stock is currently owned by insiders.

Institutional Trading of Petco Health and Wellness

A number of hedge funds and other institutional investors have recently bought and sold shares of WOOF. Long Focus Capital Management LLC purchased a new position in Petco Health and Wellness in the 1st quarter worth approximately $12,923,000. Solas Capital Management LLC purchased a new position in Petco Health and Wellness in the 1st quarter worth approximately $9,150,000. Cresset Asset Management LLC purchased a new position in Petco Health and Wellness in the 1st quarter worth approximately $7,675,000. Dimensional Fund Advisors LP grew its stake in Petco Health and Wellness by 269.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company's stock worth $12,354,000 after buying an additional 2,365,654 shares in the last quarter. Finally, Norges Bank purchased a new position in Petco Health and Wellness in the 4th quarter worth approximately $8,864,000.

About Petco Health and Wellness

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.