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

Petco Health and Wellness (NASDAQ:WOOF) released 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 firm had revenue of $1.49 billion for the quarter, compared to analysts’ expectations of $1.49 billion.

Petco Health and Wellness Trading Up 1.9%

WOOF stock traded up $0.05 during trading on Wednesday, hitting $2.63. 4,324,148 shares of the company traded hands, compared to its average volume of 2,104,732. The company has a 50-day moving average of $2.71 and a 200-day moving average of $2.74. 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 has a 1 year low of $2.24 and a 1 year high of $3.96. The firm has a market capitalization of $850.44 million, a PE ratio of 131.57, a P/E/G ratio of 3.09 and a beta of 1.53.

Analyst Ratings Changes

Several research firms have weighed in on WOOF. Citigroup lowered 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. Wall Street Zen upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Saturday, July 4th. Zacks Research lowered Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Petco Health and Wellness in a research report on Thursday, June 11th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Petco Health and Wellness has a consensus rating of “Hold” and a consensus price target of $3.85.

Insiders Place Their Bets

In other Petco Health and Wellness news, insider Holly May sold 200,000 shares of the business’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 value of $508,000.00. Following the completion of the sale, the insider owned 1,327,867 shares in the company, valued at approximately $3,372,782.18. The trade was a 13.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 450,000 shares of company stock valued at $1,145,500 in the last ninety days. Insiders own 6.50% of the company’s stock.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors have recently added to or reduced their stakes in the company. Nuveen LLC raised its stake in shares of Petco Health and Wellness by 81.9% during the fourth quarter. Nuveen LLC now owns 3,998,724 shares of the company’s stock valued at $11,236,000 after acquiring an additional 1,800,860 shares during the last quarter. Holocene Advisors LP increased its holdings in Petco Health and Wellness by 42.0% during the 3rd quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock valued at $23,575,000 after purchasing an additional 1,800,583 shares during the period. Goldman Sachs Group Inc. raised 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 last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Petco Health and Wellness during the fourth quarter valued at approximately $2,692,000. Finally, AQR Capital Management LLC raised its holdings in shares of Petco Health and Wellness by 66.9% during the second quarter. AQR Capital Management LLC now owns 2,127,355 shares of the company’s stock valued at $6,020,000 after acquiring an additional 852,767 shares in the last quarter.

About Petco Health and Wellness

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.