Petco Health and Wellness (NASDAQ:WOOF) Trading Down 4.8% – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) fell 4.8% during mid-day trading on Monday . The stock traded as low as $3.06 and last traded at $3.10. 1,374,587 shares changed hands during mid-day trading, a decline of 60% from the average session volume of 3,411,851 shares. The stock had previously closed at $3.25.

Analyst Ratings Changes

A number of brokerages recently commented on WOOF. Wells Fargo & Company upped their price objective on 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. Royal Bank of Canada restated an “outperform” rating and set a $6.00 price target on shares of Petco Health and Wellness in a research report on Friday, December 20th. Morgan Stanley cut their price objective on shares of 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, January 21st. StockNews.com raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Wedbush lifted their price target on Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $4.16.

Petco Health and Wellness Stock Up 2.7 %

The firm has a market cap of $959.16 million, a price-to-earnings ratio of -7.65 and a beta of 1.88. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The stock’s 50 day moving average is $3.95 and its 200 day moving average is $3.97.

Institutional Investors Weigh In On Petco Health and Wellness

A number of institutional investors and hedge funds have recently bought and sold shares of WOOF. PDT Partners LLC acquired a new position in shares of Petco Health and Wellness in the 3rd quarter worth $865,000. Invenomic Capital Management LP acquired a new stake in Petco Health and Wellness during the 3rd quarter worth about $2,747,000. JPMorgan Chase & Co. lifted its stake in Petco Health and Wellness by 328.0% during the third quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company’s stock valued at $8,014,000 after buying an additional 1,349,728 shares in the last quarter. FMR LLC lifted its stake in Petco Health and Wellness by 170.9% during the third quarter. FMR LLC now owns 1,521,516 shares of the company’s stock valued at $6,923,000 after buying an additional 959,960 shares in the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Petco Health and Wellness during the 3rd quarter worth approximately $728,000.

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.