Petco Health and Wellness (NASDAQ:WOOF) Sees Strong Trading Volume

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) saw unusually-strong trading volume on Thursday . Approximately 10,708,949 shares changed hands during mid-day trading, an increase of 126% from the previous session’s volume of 4,746,193 shares.The stock last traded at $3.41 and had previously closed at $3.33.

Analysts Set New Price Targets

WOOF has been the subject of several research analyst reports. Bank of America reissued an “underperform” rating and issued a $1.50 price objective (down previously from $5.00) on shares of Petco Health and Wellness in a research note on Tuesday, April 2nd. Evercore ISI dropped their target price on Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating on the stock in a research report on Friday, March 15th. Wedbush reaffirmed an “outperform” rating and set a $4.00 price objective on shares of Petco Health and Wellness in a research report on Wednesday, May 29th. Royal Bank of Canada lifted their price objective on Petco Health and Wellness from $2.70 to $3.00 and gave the company an “outperform” rating in a report on Friday, May 24th. Finally, Robert W. Baird dropped their target price on shares of Petco Health and Wellness from $3.00 to $2.50 and set a “neutral” rating for the company in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $3.09.

Petco Health and Wellness Trading Up 0.3 %

The stock has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $2.61. The company has a current ratio of 0.85, a quick ratio of 0.21 and a debt-to-equity ratio of 1.35. The firm has a market cap of $1.04 billion, a P/E ratio of -0.68 and a beta of 1.91.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings data on Wednesday, May 22nd. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.03. The firm had revenue of $1.53 billion during the quarter, compared to the consensus estimate of $1.50 billion. Petco Health and Wellness had a negative return on equity of 4.22% and a negative net margin of 21.27%. On average, equities research analysts expect that Petco Health and Wellness Company, Inc. will post -0.24 EPS for the current fiscal year.

Insider Buying and Selling at Petco Health and Wellness

In related news, Director Cameron Breitner bought 750,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was acquired at an average price of $3.14 per share, with a total value of $2,355,000.00. Following the completion of the purchase, the director now directly owns 750,000 shares of the company’s stock, valued at $2,355,000. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.40% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Petco Health and Wellness

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in Petco Health and Wellness by 73.4% in the third quarter. AQR Capital Management LLC now owns 5,225,206 shares of the company’s stock valued at $21,084,000 after purchasing an additional 2,210,988 shares in the last quarter. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Petco Health and Wellness during the 3rd quarter worth approximately $1,574,000. Vanguard Group Inc. grew its stake in Petco Health and Wellness by 3.0% in the 3rd quarter. Vanguard Group Inc. now owns 7,717,125 shares of the company’s stock valued at $31,563,000 after acquiring an additional 227,704 shares during the last quarter. Graham Capital Management L.P. purchased a new position in Petco Health and Wellness during the third quarter worth $436,000. Finally, FMR LLC raised its position in shares of Petco Health and Wellness by 216.2% in the third quarter. FMR LLC now owns 604,446 shares of the company’s stock valued at $2,472,000 after buying an additional 413,295 shares during the last quarter.

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.