Petco Health and Wellness (NASDAQ:WOOF) Trading Down 5.9% – Here’s What Happened

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) traded down 5.9% during mid-day trading on Monday . The company traded as low as $2.65 and last traded at $2.6450. 283,412 shares traded hands during trading, a decline of 88% from the average session volume of 2,268,147 shares. The stock had previously closed at $2.81.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. The Goldman Sachs Group lowered shares of Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 price target on the stock. in a report on Monday, April 13th. UBS Group upped their price objective on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Monday, March 16th. Jefferies Financial Group raised Petco Health and Wellness from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.05 to $5.00 in a research report on Thursday, March 12th. Evercore dropped their price target on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating on the stock in a research note on Tuesday, February 3rd. Finally, Zacks Research upgraded shares of Petco Health and Wellness from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 7th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.04.

Petco Health and Wellness Stock Down 9.6%

The company has a debt-to-equity ratio of 1.28, a quick ratio of 0.38 and a current ratio of 0.90. The company has a market capitalization of $818.26 million, a price-to-earnings ratio of 84.67, a price-to-earnings-growth ratio of 3.64 and a beta of 1.53. The firm’s 50-day simple moving average is $2.81 and its 200-day simple moving average is $2.92.

Petco Health and Wellness (NASDAQ:WOOF) last issued its earnings results on Wednesday, March 11th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Petco Health and Wellness had a net margin of 0.15% and a return on equity of 0.89%. The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the firm posted ($0.05) earnings per share. Petco Health and Wellness’s revenue was down 2.4% on a year-over-year basis. Sell-side analysts forecast that Petco Health and Wellness Company, Inc. will post 0.07 earnings per share for the current year.

Hedge Funds Weigh In On Petco Health and Wellness

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP increased its position in 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 during the period. Vanguard Group Inc. increased its position in Petco Health and Wellness by 8.0% in the third quarter. Vanguard Group Inc. now owns 8,416,496 shares of the company’s stock worth $32,572,000 after purchasing an additional 621,026 shares during the period. Holocene Advisors LP increased its position in Petco Health and Wellness by 42.0% in the third quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock worth $23,575,000 after purchasing an additional 1,800,583 shares during the period. Nuveen LLC increased its position in Petco Health and Wellness by 81.9% in the fourth quarter. Nuveen LLC now owns 3,998,724 shares of the company’s stock worth $11,236,000 after purchasing an additional 1,800,860 shares during the period. Finally, Goldman Sachs Group Inc. increased its position in Petco Health and Wellness by 60.2% in the first quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock worth $11,095,000 after purchasing an additional 1,367,299 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.