Principal Financial Group Inc. Makes New Investment in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)

Principal Financial Group Inc. acquired a new stake in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 159,892 shares of the company's stock, valued at approximately $728,000. Principal Financial Group Inc. owned approximately 0.05% of Petco Health and Wellness as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WOOF. Caprock Group LLC bought a new position in shares of Petco Health and Wellness in the 2nd quarter valued at approximately $44,000. Choreo LLC acquired a new position in Petco Health and Wellness during the second quarter valued at approximately $45,000. Frank Rimerman Advisors LLC bought a new position in shares of Petco Health and Wellness in the second quarter valued at approximately $50,000. Point72 Asia Singapore Pte. Ltd. lifted its stake in shares of 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 worth $51,000 after buying an additional 8,056 shares during the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of Petco Health and Wellness during the 3rd quarter worth $58,000.

Petco Health and Wellness Price Performance

Shares of WOOF stock traded down $0.02 during mid-day trading on Monday, reaching $4.04. The company's stock had a trading volume of 3,700,826 shares, compared to its average volume of 3,530,609. The firm's 50-day moving average is $4.31 and its two-hundred day moving average is $3.93. The company has a market cap of $1.27 billion, a P/E ratio of -10.10 and a beta of 1.90. Petco Health and Wellness Company, Inc. has a 1-year low of $1.41 and a 1-year high of $6.29. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wells Fargo & Company lifted their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an "equal weight" rating in a report on Friday, December 6th. Royal Bank of Canada reiterated an "outperform" rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. Morgan Stanley increased their target price on Petco Health and Wellness from $3.00 to $6.00 and gave the company an "equal weight" rating in a research note on Friday, December 6th. StockNews.com raised Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Monday, December 9th. Finally, Wedbush upped their price target on Petco Health and Wellness from $5.50 to $6.00 and gave the stock an "outperform" rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $4.25.

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.