Petco Health and Wellness (NASDAQ:WOOF) Given New $4.50 Price Target at Morgan Stanley

Petco Health and Wellness (NASDAQ:WOOF) had its price target decreased by Morgan Stanley from $5.00 to $4.50 in a research note released on Friday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts have also commented on WOOF. Wells Fargo & Company increased their price objective on Petco Health and Wellness from $3.00 to $3.50 and gave the company an “equal weight” rating in a report on Friday. Royal Bank of Canada lowered their price objective on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. The Goldman Sachs Group raised their target price on Petco Health and Wellness from $4.00 to $4.48 and gave the company a “buy” rating in a report on Thursday, March 27th. UBS Group lowered their target price on Petco Health and Wellness from $5.50 to $3.25 and set a “neutral” rating on the stock in a report on Thursday, March 27th. Finally, Wedbush lowered their target price on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $3.75.

Petco Health and Wellness Stock Down 23.2%

WOOF opened at $2.78 on Friday. Petco Health and Wellness has a fifty-two week low of $2.23 and a fifty-two week high of $6.29. The business has a 50-day moving average of $3.26 and a 200-day moving average of $3.44. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The company has a market capitalization of $876.05 million, a PE ratio of -6.95 and a beta of 1.82.

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

Insider Buying and Selling at Petco Health and Wellness

In other news, CEO Joel D. Anderson acquired 849,541 shares of the firm’s stock in a transaction dated Monday, March 31st. The shares were bought 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 $2,585,511.12. This trade 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 is accessible through the SEC website. Insiders own 2.40% of the company’s stock.

Institutional Trading of Petco Health and Wellness

Several institutional investors have recently modified their holdings of the company. Empowered Funds LLC grew its holdings in shares of Petco Health and Wellness by 21.3% during the 1st quarter. Empowered Funds LLC now owns 1,437,897 shares of the company’s stock worth $4,386,000 after purchasing an additional 252,653 shares in the last quarter. Voleon Capital Management LP grew its holdings in shares of Petco Health and Wellness by 347.6% during the 1st quarter. Voleon Capital Management LP now owns 1,078,322 shares of the company’s stock worth $3,289,000 after purchasing an additional 837,407 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 worth $11,095,000 after purchasing an additional 1,367,299 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Petco Health and Wellness by 11.2% during the 1st quarter. Bridgeway Capital Management LLC now owns 2,510,897 shares of the company’s stock worth $7,658,000 after purchasing an additional 252,653 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of Petco Health and Wellness by 9.1% during the 1st quarter. AQR Capital Management LLC now owns 1,274,588 shares of the company’s stock worth $3,887,000 after purchasing an additional 106,295 shares in the last quarter.

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.