Petco Health and Wellness (NASDAQ:WOOF) Shares Down 4.9% – Here’s What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price was down 4.9% during mid-day trading on Monday . The company traded as low as $4.83 and last traded at $5.03. Approximately 1,446,498 shares changed hands during trading, a decline of 68% from the average daily volume of 4,524,661 shares. The stock had previously closed at $5.29.

Analyst Ratings Changes

Several equities research analysts recently issued reports on WOOF shares. Wells Fargo & Company raised their target price on shares of 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. The Goldman Sachs Group lowered their price target on shares of Petco Health and Wellness from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. StockNews.com upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Monday. Citigroup raised their price objective on Petco Health and Wellness from $4.00 to $4.50 and gave the stock a “neutral” rating in a research note on Thursday, September 12th. Finally, Morgan Stanley upped their target price on Petco Health and Wellness from $3.00 to $6.00 and gave the company an “equal weight” rating in a research report on Friday, December 6th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.16.

Petco Health and Wellness Stock Performance

The company has a 50 day simple moving average of $4.61 and a 200 day simple moving average of $3.87. 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 has a market cap of $1.42 billion, a price-to-earnings ratio of -11.39 and a beta of 1.89.

Petco Health and Wellness (NASDAQ:WOOF) last issued its quarterly earnings data on Tuesday, September 10th. The company reported ($0.02) EPS for the quarter, meeting the consensus estimate of ($0.02). The business had revenue of $1.52 billion during the quarter, compared to the consensus estimate of $1.53 billion. Petco Health and Wellness had a negative net margin of 1.77% and a negative return on equity of 5.40%. The firm’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.01) EPS. As a group, equities research analysts forecast that Petco Health and Wellness Company, Inc. will post -0.23 EPS for the current year.

Institutional Investors Weigh In On Petco Health and Wellness

Several hedge funds have recently modified their holdings of the company. Holocene Advisors LP raised its position in Petco Health and Wellness by 8.7% in the third quarter. Holocene Advisors LP now owns 7,557,293 shares of the company’s stock valued at $34,386,000 after purchasing an additional 602,602 shares during the last quarter. AQR Capital Management LLC grew its holdings in Petco Health and Wellness by 82.1% during the 2nd quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock worth $22,661,000 after acquiring an additional 2,953,667 shares during the last quarter. Marshall Wace LLP increased its position in Petco Health and Wellness by 47.3% in the 2nd quarter. Marshall Wace LLP now owns 3,401,248 shares of the company’s stock valued at $12,857,000 after acquiring an additional 1,092,204 shares during the period. Millennium Management LLC raised its stake in shares of Petco Health and Wellness by 233.7% during the second quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock valued at $10,127,000 after acquiring an additional 1,876,233 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Petco Health and Wellness by 9.2% during the third quarter. Geode Capital Management LLC now owns 2,212,292 shares of the company’s stock worth $10,068,000 after purchasing an additional 186,230 shares during the period.

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.