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

Principal Financial Group Inc. purchased a new stake in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 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 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. increased its stake in shares of Petco Health and Wellness by 362.3% in the 3rd quarter. Franklin Resources Inc. now owns 64,850 shares of the company’s stock valued at $305,000 after buying an additional 50,821 shares during the period. Sanctuary Advisors LLC bought a new position in Petco Health and Wellness in the third quarter valued at about $66,000. Geode Capital Management LLC raised its holdings in Petco Health and Wellness by 9.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,212,292 shares of the company’s stock worth $10,068,000 after purchasing an additional 186,230 shares during the last quarter. XTX Topco Ltd bought a new stake in Petco Health and Wellness during the 3rd quarter worth about $602,000. Finally, Quadrature Capital Ltd acquired a new position in Petco Health and Wellness during the 3rd quarter valued at about $58,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on WOOF shares. Royal Bank of Canada reissued an “outperform” rating and set a $6.00 price target on shares of Petco Health and Wellness in a research note on Friday, December 20th. The Goldman Sachs Group dropped their target price on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Citigroup increased their price target on Petco Health and Wellness from $4.00 to $4.50 and gave the company a “neutral” rating in a research note on Thursday, September 12th. Morgan Stanley lifted their price objective on Petco Health and Wellness from $3.00 to $6.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, Wedbush increased their target price on Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Petco Health and Wellness presently has an average rating of “Hold” and an average price target of $4.25.

Petco Health and Wellness Stock Performance

Shares of Petco Health and Wellness stock opened at $4.06 on Monday. The stock’s 50-day moving average is $4.32 and its 200-day moving average is $3.93. Petco Health and Wellness Company, Inc. has a one year low of $1.41 and a one year high of $6.29. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of -10.15 and a beta of 1.90. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22.

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.