Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 3.2% - Here's What Happened

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) dropped 3.2% during mid-day trading on Tuesday . The company traded as low as $3.52 and last traded at $3.52. Approximately 680,248 shares were traded during trading, a decline of 85% from the average daily volume of 4,397,101 shares. The stock had previously closed at $3.63.

Analysts Set New Price Targets

Several equities analysts have commented on WOOF shares. UBS Group decreased their target price on shares of Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating on the stock in a report on Thursday, March 27th. Wall Street Zen raised Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Thursday, March 20th. Robert W. Baird reduced their target price on Petco Health and Wellness from $5.00 to $3.50 and set a "neutral" rating for the company in a report on Thursday, March 27th. Citigroup decreased their price objective 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. Finally, The Goldman Sachs Group raised their price objective on Petco Health and Wellness from $4.00 to $4.48 and gave the company a "buy" rating in a research note on Thursday, March 27th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, Petco Health and Wellness presently has an average rating of "Hold" and an average price target of $4.00.

Petco Health and Wellness Stock Performance

The business has a 50 day simple moving average of $3.11 and a two-hundred day simple moving average of $3.47. The firm has a market cap of $1.12 billion, a PE ratio of -8.89 and a beta of 1.74. 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 Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in WOOF. New York State Common Retirement Fund boosted its stake in shares of Petco Health and Wellness by 47.6% in the fourth quarter. New York State Common Retirement Fund now owns 11,508 shares of the company's stock valued at $44,000 after purchasing an additional 3,711 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in Petco Health and Wellness by 40.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,841 shares of the company's stock valued at $60,000 after purchasing an additional 4,526 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. increased its position in Petco Health and Wellness by 41.0% during the fourth quarter. Point72 Asia Singapore Pte. Ltd. now owns 15,841 shares of the company's stock worth $60,000 after buying an additional 4,610 shares during the period. Swiss National Bank increased its holdings in shares of Petco Health and Wellness by 2.6% in the 4th quarter. Swiss National Bank now owns 186,100 shares of the company's stock valued at $709,000 after acquiring an additional 4,800 shares during the period. Finally, Renaissance Technologies LLC increased its stake in Petco Health and Wellness by 0.5% in the fourth quarter. Renaissance Technologies LLC now owns 990,700 shares of the company's stock valued at $3,775,000 after purchasing an additional 5,100 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.

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