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

Invenomic Capital Management LP acquired a new position in shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 603,635 shares of the company’s stock, valued at approximately $2,747,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in shares of Petco Health and Wellness by 15.8% during the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after acquiring an additional 1,254,554 shares during the last quarter. Holocene Advisors LP grew its position in Petco Health and Wellness by 8.7% in the 3rd quarter. Holocene Advisors LP now owns 7,557,293 shares of the company’s stock worth $34,386,000 after purchasing an additional 602,602 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Petco Health and Wellness by 82.1% in the second quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after purchasing an additional 2,953,667 shares during the period. Marshall Wace LLP raised its holdings in shares of Petco Health and Wellness by 47.3% during the second quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock valued at $12,857,000 after buying an additional 1,092,204 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Petco Health and Wellness by 233.7% during the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock worth $10,127,000 after buying an additional 1,876,233 shares during the period.

Petco Health and Wellness Stock Up 5.3 %

Shares of NASDAQ:WOOF opened at $5.17 on Wednesday. The company has a debt-to-equity ratio of 1.39, a quick ratio of 0.24 and a current ratio of 0.84. Petco Health and Wellness Company, Inc. has a 1-year low of $1.41 and a 1-year high of $5.94. The company has a 50 day moving average price of $4.56 and a 200 day moving average price of $3.78.

Petco Health and Wellness (NASDAQ:WOOF) last announced its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting analysts’ consensus estimates of ($0.02). The company had revenue of $1.52 billion during the quarter, compared to the consensus estimate 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 company’s quarterly revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. As a group, equities analysts forecast that Petco Health and Wellness Company, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have weighed in on the company. Wedbush lifted their target price on 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 reduced their price objective on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Royal Bank of Canada increased their target price on shares of 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. Citigroup boosted their price target on shares of Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research report on Thursday, September 12th. Finally, Wells Fargo & Company increased their price objective on shares of Petco Health and Wellness from $2.75 to $3.00 and gave the company an “equal weight” rating in a report on Wednesday, September 11th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $3.49.

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.