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

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

Analysts Set New Price Targets

WOOF has been the subject of several research analyst reports. Citigroup boosted their target price on shares of Petco Health and Wellness from $3.50 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, March 16th. Evercore dropped their target price on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a research report on Tuesday, February 3rd. Zacks Research raised shares of Petco Health and Wellness from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 7th. The Goldman Sachs Group downgraded shares of Petco Health and Wellness from a “buy” rating to a “neutral” rating and set a $3.83 target price for the company. in a research report on Monday, April 13th. Finally, Wall Street Zen raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Saturday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Petco Health and Wellness has an average rating of “Hold” and a consensus price target of $4.04.

Petco Health and Wellness Price Performance

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 business’s 50 day simple moving average is $2.81 and its 200-day simple moving average is $2.92. The stock 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.

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

Institutional Trading of Petco Health and Wellness

Hedge funds and other institutional investors have recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in shares of Petco Health and Wellness by 280.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 832,412 shares of the company’s stock worth $3,221,000 after purchasing an additional 613,591 shares in the last quarter. Candlestick Capital Management LP bought a new stake in shares of Petco Health and Wellness in the 3rd quarter worth approximately $6,772,000. Union Square Park Capital Management LLC bought a new stake in shares of Petco Health and Wellness in the 3rd quarter worth approximately $677,000. Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Petco Health and Wellness by 8.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 92,231 shares of the company’s stock worth $259,000 after purchasing an additional 6,847 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of Petco Health and Wellness by 59.9% in the 4th quarter. SG Americas Securities LLC now owns 90,410 shares of the company’s stock worth $254,000 after purchasing an additional 33,878 shares in the last quarter.

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.