Petco Health and Wellness (NASDAQ:WOOF) Shares Down 4.2% – What’s Next?

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) were down 4.2% during mid-day trading on Thursday . The company traded as low as $3.67 and last traded at $3.68. Approximately 918,212 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,742,638 shares. The stock had previously closed at $3.84.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and set a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. StockNews.com upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research note on Monday, December 9th. Wells Fargo & Company lifted their price objective on Petco Health and Wellness from $3.00 to $5.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. Wedbush lifted their price objective on Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Finally, Morgan Stanley lifted their price objective on Petco Health and Wellness from $3.00 to $6.00 and gave the company an “equal weight” rating in a research note on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $4.25.

Petco Health and Wellness Trading Down 1.4 %

The stock has a market cap of $1.14 billion, a PE ratio of -9.13 and a beta of 1.90. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.22 and a current ratio of 0.84. The company’s 50-day moving average price is $4.21 and its 200 day moving average price is $3.95.

Institutional Trading of Petco Health and Wellness

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Diversified Trust Co raised its position in Petco Health and Wellness by 57.2% in the fourth quarter. Diversified Trust Co now owns 25,486 shares of the company’s stock valued at $97,000 after purchasing an additional 9,272 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Petco Health and Wellness by 328.0% in the third quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company’s stock worth $8,014,000 after acquiring an additional 1,349,728 shares in the last quarter. Principal Financial Group Inc. acquired a new position in shares of Petco Health and Wellness in the third quarter worth $728,000. Franklin Resources Inc. grew its stake in shares of Petco Health and Wellness by 362.3% in the third quarter. Franklin Resources Inc. now owns 64,850 shares of the company’s stock worth $305,000 after acquiring an additional 50,821 shares in the last quarter. Finally, Sanctuary Advisors LLC acquired a new position in shares of Petco Health and Wellness in the third quarter worth $66,000.

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.