Norden Group LLC Acquires Shares in Petco Health and Wellness ?

Léonard Maxime - 9 July 2024 - 9:28 am

Introduction

Norden Group LLC has purchased a new position in Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) in the first quarter, according to the company’s most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 135,590 shares valued at approximately $309,000.

Other Institutional Investors

Several other institutional investors have also recently added to or reduced their stakes in the company. Everhart Financial Group Inc., FNY Investment Advisers LLC, Grey Street Capital LLC, and Zurcher Kantonalbank Zurich Cantonalbank are among those who have made significant moves. For instance, Zurcher Kantonalbank Zurich Cantonalbank increased its position by 130.4% during the fourth quarter.

Wall Street Analysts Forecast Growth

WOOF has been the subject of several recent analyst reports. Citigroup, Wells Fargo & Company, and Robert W. Baird have all adjusted their price objectives for Petco Health and Wellness. The consensus rating for the stock is currently ‘Hold’ with a consensus price target of $3.09.

Insiders Place Their Bets

In related news, Director Cameron Breitner bought 750,000 shares of the firm’s stock at an average cost of $3.14 per share, totaling $2,355,000. Insiders now own 2.40% of the company’s stock.

Petco Health and Wellness Stock Performance

Shares of WOOF opened at $3.31 on Tuesday. The company has a debt-to-equity ratio of 1.35, a quick ratio of 0.21, and a current ratio of 0.85. Petco Health and Wellness Company, Inc. has a market capitalization of $1.03 billion, a P/E ratio of -0.67, and a beta of 1.89.

Company Profile

Petco Health and Wellness Company, Inc. operates as a health and wellness company, focusing 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.