Petco Health and Wellness (NASDAQ:WOOF) Shares Down 4.6% - Here's What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s stock price dropped 4.6% during mid-day trading on Tuesday . The stock traded as low as $2.97 and last traded at $3.02. Approximately 1,161,393 shares were traded during trading, a decline of 75% from the average daily volume of 4,658,002 shares. The stock had previously closed at $3.16.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on WOOF. Royal Bank of Canada reduced their price target on Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating on the stock in a report on Thursday, March 27th. Morgan Stanley decreased their target price on Petco Health and Wellness from $6.00 to $5.00 and set an "equal weight" rating for the company in a research report on Tuesday, January 21st. Wedbush lowered their target price on shares of Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating for the company in a research note on Thursday, March 27th. UBS Group decreased their price objective on shares of Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating for the company in a report on Thursday, March 27th. Finally, Citigroup reduced their target price on shares of Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating on the stock in a research report on Tuesday, March 18th. Five research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $4.11.

Petco Health and Wellness Trading Down 4.0 %

The stock has a market capitalization of $956.41 million, a P/E ratio of -7.59 and a beta of 1.74. The stock's 50 day moving average price is $2.84 and its 200-day moving average price is $3.64. 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 Trading of Petco Health and Wellness

Hedge funds and other institutional investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. lifted its stake in shares of Petco Health and Wellness by 328.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company's stock worth $8,014,000 after purchasing an additional 1,349,728 shares during the last quarter. Principal Financial Group Inc. purchased a new stake in shares of Petco Health and Wellness during the third quarter valued at about $728,000. Geode Capital Management LLC boosted its holdings in shares of Petco Health and Wellness by 9.2% in the 3rd quarter. Geode Capital Management LLC now owns 2,212,292 shares of the company's stock valued at $10,068,000 after buying an additional 186,230 shares in the last quarter. Bleakley Financial Group LLC grew its position in shares of Petco Health and Wellness by 14.3% in the 4th quarter. Bleakley Financial Group LLC now owns 45,122 shares of the company's stock worth $172,000 after buying an additional 5,660 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new position in shares of Petco Health and Wellness in the 3rd quarter worth approximately $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.

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