Invenomic Capital Management LP Takes $2.75 Million Position in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)

Invenomic Capital Management LP bought a new position in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 603,635 shares of the company's stock, valued at approximately $2,747,000. Invenomic Capital Management LP owned about 0.19% of Petco Health and Wellness as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WOOF. Point72 Asia Singapore Pte. Ltd. lifted its holdings in Petco Health and Wellness by 253.7% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 11,231 shares of the company's stock valued at $51,000 after buying an additional 8,056 shares during the period. Caprock Group LLC acquired a new position in shares of Petco Health and Wellness in the 2nd quarter valued at about $44,000. Choreo LLC bought a new stake in shares of Petco Health and Wellness during the 2nd quarter valued at about $45,000. Frank Rimerman Advisors LLC acquired a new stake in Petco Health and Wellness during the second quarter worth approximately $50,000. Finally, nVerses Capital LLC bought a new stake in Petco Health and Wellness in the second quarter worth approximately $52,000.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Citigroup increased their price target on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a "neutral" rating in a report on Thursday, September 12th. Wells Fargo & Company raised their price target on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 11th. Wedbush lifted their price target on shares of Petco Health and Wellness from $5.00 to $5.50 and gave the company an "outperform" rating in a research note on Friday, October 18th. The Goldman Sachs Group cut their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Thursday, September 12th. Finally, Royal Bank of Canada boosted their target price on Petco Health and Wellness from $3.00 to $3.50 and gave the company an "outperform" rating in a research report on Wednesday, September 11th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Petco Health and Wellness has an average rating of "Hold" and a consensus target price of $3.49.

Petco Health and Wellness Trading Down 1.4 %

Shares of WOOF stock traded down $0.07 during trading hours on Wednesday, reaching $5.10. The company had a trading volume of 2,825,190 shares, compared to its average volume of 4,464,571. The business has a fifty day simple moving average of $4.56 and a 200-day simple moving average of $3.78. Petco Health and Wellness Company, Inc. has a 12 month low of $1.41 and a 12 month high of $5.94. The company has a quick ratio of 0.24, a current ratio of 0.84 and a debt-to-equity ratio of 1.39.

Petco Health and Wellness (NASDAQ:WOOF - Get Free Report) last issued its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $1.52 billion for the quarter, compared to analysts' expectations of $1.53 billion. Petco Health and Wellness had a negative return on equity of 6.51% and a negative net margin of 21.46%. The business's revenue was down .5% on a year-over-year basis. During the same period last year, the business earned ($0.01) EPS. Analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current fiscal year.

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.