Petco Health and Wellness (NASDAQ:WOOF) Shares Down 4.3% - What's Next?

Key Points

• Petco shares fell 4.3% to about $2.76, with trading volume roughly 68% below the average session volume.
• Analyst sentiment remains mixed: the stock carries an overall “Hold” rating, with an average price target of $3.88; Citigroup recently cut its target to $3.25, while other firms issued ratings ranging from Buy to Sell.
• Insider selling increased pressure on the stock, with executive Holly May selling 200,000 shares and company insiders selling 450,000 shares worth $1.15 million over the past 90 days.

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) shares were down 4.3% on Tuesday . The stock traded as low as $2.77 and last traded at $2.7550. Approximately 666,938 shares were traded during trading, a decline of 68% from the average session volume of 2,109,277 shares. The stock had previously closed at $2.88.

Analysts Set New Price Targets

Several equities analysts recently issued reports on WOOF shares. Citigroup lowered their price objective on Petco Health and Wellness from $4.00 to $3.25 and set a "neutral" rating on the stock in a research report on Thursday, June 4th. Wall Street Zen upgraded Petco Health and Wellness from a "hold" rating to a "buy" rating in a research note on Saturday, July 4th. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Petco Health and Wellness in a research report on Thursday, June 11th. Finally, Zacks Research downgraded Petco Health and Wellness from a "strong-buy" rating to a "hold" rating in a report on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $3.88.

Petco Health and Wellness Stock Down 3.6%

The company has a fifty day moving average of $2.70 and a 200 day moving average of $2.73. The company has a quick ratio of 0.29, a current ratio of 0.85 and a debt-to-equity ratio of 1.27. The company has a market cap of $897.31 million, a P/E ratio of 138.82, a price-to-earnings-growth ratio of 3.29 and a beta of 1.54.

Insider Activity at Petco Health and Wellness

In other news, insider Holly May sold 200,000 shares of the company's stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $2.54, for a total transaction of $508,000.00. Following the completion of the sale, the insider owned 1,327,867 shares of the company's stock, valued at $3,372,782.18. This represents a 13.09% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last ninety days, insiders have sold 450,000 shares of company stock worth $1,145,500. 6.50% of the stock is owned by corporate insiders.

Institutional Trading of Petco Health and Wellness

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in Petco Health and Wellness during the 1st quarter worth approximately $1,455,000. Hillsdale Investment Management Inc. purchased a new stake in shares of Petco Health and Wellness in the first quarter worth $3,883,000. Dimensional Fund Advisors LP increased its stake in shares of Petco Health and Wellness by 6.9% in the first quarter. Dimensional Fund Advisors LP now owns 10,111,061 shares of the company's stock worth $28,107,000 after purchasing an additional 655,567 shares in the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in shares of Petco Health and Wellness during the 1st quarter valued at $527,000. Finally, Bleakley Financial Group LLC raised its position in shares of Petco Health and Wellness by 24.6% during the 1st quarter. Bleakley Financial Group LLC now owns 245,656 shares of the company's stock valued at $683,000 after purchasing an additional 48,463 shares during the period.

About Petco Health and Wellness

Petco Health and Wellness Company, Inc NASDAQ: WOOF is a leading U.S. pet specialty retailer focused on delivering products, services and solutions that improve the health and well-being of pets. The company operates a network of retail locations that provide high-quality pet food, supplies and accessories, along with a growing digital platform that supports online ordering, subscription delivery and telehealth consultations for pets.

In addition to its retail offerings, Petco has built a full suite of in-store and virtual services, including grooming, training, dog daycare and veterinary care.

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