Petco Health and Wellness (NASDAQ:WOOF) Issues Quarterly Earnings Results

Petco Health and Wellness (NASDAQ:WOOF) issued its quarterly earnings results on Wednesday. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06, FiscalAI reports. Petco Health and Wellness had a net margin of 0.09% and a return on equity of 1.36%. The business had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion.

Petco Health and Wellness Price Performance

Shares of WOOF stock traded up $0.05 during mid-day trading on Wednesday, hitting $2.63. The company had a trading volume of 4,575,331 shares, compared to its average volume of 2,104,732. The company has a debt-to-equity ratio of 1.27, a current ratio of 0.85 and a quick ratio of 0.29. The stock’s 50 day moving average price is $2.71 and its 200-day moving average price is $2.74. Petco Health and Wellness has a 52-week low of $2.24 and a 52-week high of $3.96. The company has a market capitalization of $850.44 million, a P/E ratio of 131.57, a P/E/G ratio of 3.09 and a beta of 1.53.

Insider Transactions at Petco Health and Wellness

In other news, insider Holly May sold 200,000 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $2.54, for a total transaction of $508,000.00. Following the sale, the insider directly owned 1,327,867 shares of the company’s stock, valued at $3,372,782.18. This represents a 13.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last 90 days, insiders sold 450,000 shares of company stock valued at $1,145,500. Insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Petco Health and Wellness

Large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its position in Petco Health and Wellness by 9.1% in the 1st quarter. AQR Capital Management LLC now owns 1,274,588 shares of the company’s stock valued at $3,887,000 after buying an additional 106,295 shares during the period. Goldman Sachs Group Inc. increased its position in Petco Health and Wellness by 60.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock valued at $11,095,000 after purchasing an additional 1,367,299 shares during the period. Creative Planning increased its holdings in Petco Health and Wellness by 14.8% during the second quarter. Creative Planning now owns 36,779 shares of the company’s stock valued at $104,000 after buying an additional 4,734 shares during the period. Cetera Investment Advisers raised its position in shares of Petco Health and Wellness by 17.6% in the 2nd quarter. Cetera Investment Advisers now owns 28,419 shares of the company’s stock worth $80,000 after acquiring an additional 4,258 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Petco Health and Wellness by 23.9% in the second quarter. Legal & General Group Plc now owns 126,352 shares of the company’s stock worth $358,000 after purchasing an additional 24,369 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on WOOF. Citigroup decreased their target price 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. Wall Street Zen raised Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Weiss Ratings restated a “sell (d)” rating on shares of Petco Health and Wellness in a research report on Thursday, June 11th. Finally, Zacks Research downgraded Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Petco Health and Wellness has an average rating of “Hold” and an average target price of $3.85.

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.