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 Performance

Shares of WOOF stock opened at $8.06 on Friday. Petco Health and Wellness has a 12 month low of $7.29 and a 12 month high of $17.17. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.98 and a quick ratio of 0.36. 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. The company’s fifty day moving average price is $9.46 and its two-hundred day moving average price is $10.07.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WOOF. Royal Bank of Canada cut their target price on shares of Petco Health and Wellness from $14.00 to $10.00 and set an outperform rating on the stock in a research note on Thursday, March 23rd. Needham & Company LLC cut their target price on shares of Petco Health and Wellness from $20.00 to $15.00 and set a buy rating on the stock in a research note on Friday, April 14th. Wells Fargo & Company cut their target price on shares of Petco Health and Wellness from $14.00 to $12.00 and set an overweight rating on the stock in a research note on Wednesday, March 15th. Citigroup dropped their price objective on shares of Petco Health and Wellness from $11.00 to $8.50 and set a neutral rating on the stock in a research note on Tuesday, March 28th. Finally, StockNews.com upgraded shares of Petco Health and Wellness from a hold rating to a buy rating in a research note on Friday. Five investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $11.75.

Insiders Place Their Bets

In other news, CEO Ron Coughlin bought 61,040 shares of the firm’s stock in a transaction on Tuesday, March 28th. The stock was purchased at an average price of $8.27 per share, for a total transaction of $504,800.80. Following the transaction, the chief executive officer now owns 618,317 shares in the company, valued at $5,113,481.59. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.61% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Ameriprise Financial Inc. boosted its holdings in shares of Petco Health and Wellness by 40.0% in the first quarter. Ameriprise Financial Inc. now owns 238,963 shares of the company’s stock valued at $2,151,000 after acquiring an additional 68,238 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Petco Health and Wellness by 4.9% in the first quarter. JPMorgan Chase & Co. now owns 4,735,259 shares of the company’s stock valued at $42,618,000 after acquiring an additional 220,155 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of Petco Health and Wellness by 61.9% in the first quarter. Advisory Services Network LLC now owns 4,065 shares of the company’s stock valued at $37,000 after acquiring an additional 1,554 shares in the last quarter. State Street Corp boosted its holdings in shares of Petco Health and Wellness by 24.0% in the first quarter. State Street Corp now owns 1,811,020 shares of the company’s stock valued at $16,299,000 after acquiring an additional 350,453 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Petco Health and Wellness by 629.6% in the first quarter. First Trust Advisors LP now owns 1,015,376 shares of the company’s stock valued at $9,138,000 after acquiring an additional 876,216 shares in the last quarter. 62.27% of the stock is currently owned by 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.