Petco Health and Wellness (NASDAQ:WOOF) Issues FY 2023 Earnings Guidance

Petco Health and Wellness (NASDAQ:WOOF – Get Rating) issued an update on its FY 2023 earnings guidance on Friday morning. The company provided EPS guidance of $0.40-$0.48 for the period, compared to the consensus EPS estimate of $0.45. The company issued revenue guidance of $6.15 billion-$6.28 billion, compared to the consensus revenue estimate of $6.27 billion.

Petco Health and Wellness Stock Down 3.2 %

Petco Health and Wellness stock opened at $8.06 on Friday. Petco Health and Wellness has a twelve month low of $7.29 and a twelve month high of $17.17. The stock’s fifty day simple moving average is $9.46 and its 200-day simple moving average is $10.07. The company has a current ratio of 0.98, a quick ratio of 0.36 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $1.85 billion, a P/E ratio of 35.04, a P/E/G ratio of 9.64 and a beta of 1.02.

Petco Health and Wellness (NASDAQ:WOOF – Get Rating) last posted its quarterly earnings data on Wednesday, March 22nd. The company reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.04). Petco Health and Wellness had a return on equity of 4.85% and a net margin of 1.05%. The company had revenue of $1.58 billion for the quarter, compared to analysts’ expectations of $1.55 billion. As a group, equities analysts expect that Petco Health and Wellness will post 0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on WOOF. StockNews.com raised Petco Health and Wellness from a hold rating to a buy rating in a report on Friday. Bank of America decreased their price objective on shares of Petco Health and Wellness from $18.00 to $14.50 and set a buy rating for the company in a research note on Wednesday, March 29th. Gordon Haskett began coverage on shares of Petco Health and Wellness in a research note on Friday, April 28th. They issued a hold rating and a $10.00 price objective for the company. Wells Fargo & Company decreased their target price on shares of Petco Health and Wellness from $14.00 to $12.00 and set an overweight rating for the company in a research note on Wednesday, March 15th. Finally, Royal Bank of Canada decreased their target price on shares of Petco Health and Wellness from $14.00 to $10.00 and set an outperform rating for the company in a research note on Thursday, March 23rd. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average target price of $11.75.

Insider Buying and Selling at Petco Health and Wellness

In other Petco Health and Wellness news, CEO Ron Coughlin acquired 61,040 shares of the company’s stock in a transaction dated Tuesday, March 28th. The stock was acquired at an average cost of $8.27 per share, with a total value of $504,800.80. Following the purchase, the chief executive officer now directly owns 618,317 shares in the company, valued at approximately $5,113,481.59. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 0.61% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of WOOF. Mackenzie Financial Corp acquired a new stake in Petco Health and Wellness during the first quarter worth approximately $128,843,000. Millennium Management LLC boosted its position in Petco Health and Wellness by 2,109.0% during the fourth quarter. Millennium Management LLC now owns 4,305,037 shares of the company’s stock worth $40,812,000 after acquiring an additional 4,110,147 shares during the last quarter. Norges Bank acquired a new stake in Petco Health and Wellness during the fourth quarter worth approximately $21,521,000. T. Rowe Price Investment Management Inc. boosted its position in Petco Health and Wellness by 62.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,274,846 shares of the company’s stock worth $40,526,000 after acquiring an additional 1,636,087 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in shares of Petco Health and Wellness by 422.9% during the 1st quarter. Bank of New York Mellon Corp now owns 1,451,917 shares of the company’s stock valued at $28,416,000 after buying an additional 1,174,228 shares during the period. 62.27% of the stock is owned by hedge funds and other institutional investors.

About Petco Health and Wellness

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Petco Health and Wellness Company, Inc, a health and wellness company, focuses on enhancing the lives of pets, pet parents, and its Petco partners. 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.