Traders Purchase High Volume of Call Options on Petco Health and Wellness (NASDAQ:WOOF)

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) saw some unusual options trading activity on Thursday. Stock investors bought 11,818 call options on the stock. This is an increase of approximately 306% compared to the typical volume of 2,913 call options.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird lowered their target price on shares of Petco Health and Wellness from $5.00 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday. Royal Bank of Canada lowered their price objective on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a research report on Thursday. Wells Fargo & Company boosted their target price on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research report on Friday, December 6th. Citigroup lowered their price target on Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating on the stock in a report on Tuesday, March 18th. Finally, Wedbush cut their price objective on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating for the company in a report on Thursday. One analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Petco Health and Wellness has a consensus rating of “Hold” and an average price target of $3.80.

Petco Health and Wellness Price Performance

Shares of NASDAQ WOOF traded up $0.88 during trading hours on Thursday, reaching $3.32. 17,042,082 shares of the stock traded hands, compared to its average volume of 4,390,527. The company’s 50-day simple moving average is $2.99 and its two-hundred day simple moving average is $3.92. The company has a market capitalization of $1.04 billion, a P/E ratio of -8.31 and a beta of 1.92. Petco Health and Wellness has a 52-week low of $1.41 and a 52-week high of $6.29. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Petco Health and Wellness by 269.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company’s stock valued at $12,354,000 after purchasing an additional 2,365,654 shares in the last quarter. Norges Bank purchased a new stake in Petco Health and Wellness during the fourth quarter valued at about $8,864,000. Bridgeway Capital Management LLC bought a new position in shares of Petco Health and Wellness during the fourth quarter valued at about $8,604,000. Driehaus Capital Management LLC purchased a new position in shares of Petco Health and Wellness in the fourth quarter worth about $6,887,000. Finally, Nuveen Asset Management LLC lifted its stake in shares of Petco Health and Wellness by 513.6% in the 4th quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company’s stock valued at $8,009,000 after acquiring an additional 1,759,570 shares during the last quarter.

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.