Investors Buy Large Volume of Petco Health and Wellness Put Options (NASDAQ:WOOF)

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) was the recipient of unusually large options trading activity on Friday. Investors bought 11,766 put options on the company. This represents an increase of approximately 309% compared to the typical volume of 2,879 put options.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently made changes to their positions in WOOF. Rhumbline Advisers lifted its holdings in Petco Health and Wellness by 69.3% in the second quarter. Rhumbline Advisers now owns 126,631 shares of the company’s stock valued at $479,000 after buying an additional 51,840 shares during the period. American Century Companies Inc. grew its stake in shares of Petco Health and Wellness by 50.6% during the second quarter. American Century Companies Inc. now owns 142,036 shares of the company’s stock worth $537,000 after purchasing an additional 47,750 shares during the period. Renaissance Technologies LLC increased its holdings in Petco Health and Wellness by 124.0% in the second quarter. Renaissance Technologies LLC now owns 1,128,038 shares of the company’s stock valued at $4,264,000 after purchasing an additional 624,338 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new position in Petco Health and Wellness in the second quarter valued at about $78,000. Finally, Frank Rimerman Advisors LLC bought a new position in Petco Health and Wellness during the second quarter worth about $50,000.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley lowered their price target on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Tuesday. Wedbush upped their target price on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. StockNews.com raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Monday, December 9th. Wells Fargo & Company upped their price objective on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $6.00 target price on shares of Petco Health and Wellness in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Petco Health and Wellness currently has a consensus rating of “Hold” and an average price target of $4.16.

Petco Health and Wellness Stock Performance

WOOF stock opened at $3.85 on Friday. The company has a 50 day moving average price of $4.16 and a 200 day moving average price of $3.97. Petco Health and Wellness has a fifty-two week low of $1.41 and a fifty-two week high of $6.29. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.84 and a quick ratio of 0.22. The stock has a market capitalization of $1.21 billion, a PE ratio of -9.63 and a beta of 1.90.

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.