Petco Health and Wellness (NASDAQ:WOOF) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Petco Health and Wellness (NASDAQ:WOOF) posted its quarterly earnings results on Thursday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.03), Zacks reports. Petco Health and Wellness had a negative net margin of 1.77% and a negative return on equity of 5.40%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.50 billion. During the same quarter in the previous year, the business posted ($0.04) EPS. The company’s quarterly revenue was down 2.3% on a year-over-year basis.

Petco Health and Wellness Stock Down 23.2%

WOOF stock opened at $2.78 on Friday. Petco Health and Wellness has a twelve month low of $2.23 and a twelve month high of $6.29. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $876.05 million, a P/E ratio of -6.95 and a beta of 1.82. The firm has a 50 day simple moving average of $3.26 and a 200-day simple moving average of $3.44.

Insider Transactions at Petco Health and Wellness

In related news, CEO Joel D. Anderson purchased 849,541 shares of the firm’s stock in a transaction dated Monday, March 31st. The stock was acquired at an average price of $3.03 per share, with a total value of $2,574,109.23. Following the completion of the transaction, the chief executive officer now owns 853,304 shares of the company’s stock, valued at $2,585,511.12. This represents a 22,576.16% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Petco Health and Wellness

A hedge fund recently raised its stake in Petco Health and Wellness stock. AQR Capital Management LLC raised its holdings in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) by 9.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,274,588 shares of the company’s stock after purchasing an additional 106,295 shares during the period. AQR Capital Management LLC owned about 0.40% of Petco Health and Wellness worth $3,887,000 as of its most recent SEC filing.

Analyst Ratings Changes

A number of research firms have recently issued reports on WOOF. Citigroup dropped their price objective on shares of Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th. UBS Group dropped their price objective on shares of Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating on the stock in a research note on Thursday, March 27th. Royal Bank of Canada dropped their price objective on shares of Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a research note on Thursday, March 27th. Wall Street Zen upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Thursday, March 20th. Finally, Robert W. Baird dropped 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 note on Thursday, March 27th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Petco Health and Wellness has an average rating of “Hold” and a consensus price target of $3.75.

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.