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SAN DIEGO—Joel D. Anderson, the Chief Executive Officer of Petco Health & Wellness Company, Inc. (NASDAQ:WOOF), has made significant stock purchases, according to a recent SEC filing.
On March 28 and March 31, Anderson acquired a total of 1,586,088 shares of Petco’s Class A Common Stock, with a total transaction value of approximately $4,717,460. The shares were purchased at prices ranging from $2.91 to $3.03 per share.
The transactions increased Anderson’s holdings through various trusts and direct ownership. As of the latest filing, Anderson holds a total of 3,220,181 shares directly.
These transactions reflect Anderson’s continued investment in Petco, as the company focuses on expanding its footprint in the pet health and wellness sector.
In other recent news, Petco Health & Wellness Co. Inc. reported its Q4 2024 earnings, revealing a mixed financial performance. The company posted a revenue of $1.55 billion, which aligned with expectations, but reported a negative earnings per share (EPS) of -$0.05, missing the forecast of $0.00. Despite the earnings miss, Petco’s stock saw a significant aftermarket rally. UBS analyst Michael Lasser adjusted Petco’s stock price target to $3.25, down from $5.50, maintaining a Neutral rating, while Citi analyst Steven Zaccone increased the price target to $3.00 from $2.75, also keeping a Neutral rating. Both analysts noted Petco’s focus on improving profitability and cost-saving measures. The company’s strategy includes closing 20-30 net locations in 2025 and expanding in the fresh frozen pet food category. Petco’s financial outlook for 2025 anticipates a slight decline in net sales, with adjusted EBITDA projected between $375 and $390 million. The company is prioritizing cost savings and operational efficiencies over sales growth to stabilize profitability.
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