Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 7.6% - What's Next?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report)'s share price traded down 7.6% during mid-day trading on Wednesday . The company traded as low as $2.95 and last traded at $2.90. 434,499 shares were traded during mid-day trading, a decline of 88% from the average session volume of 3,506,731 shares. The stock had previously closed at $3.14.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Morgan Stanley lowered their price target on shares of Petco Health and Wellness from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Tuesday, January 21st. Wedbush reiterated an "outperform" rating and issued a $6.00 price target on shares of Petco Health and Wellness in a research report on Wednesday. Wells Fargo & Company increased their price target on Petco Health and Wellness from $3.00 to $5.00 and gave the stock an "equal weight" rating in a research report on Friday, December 6th. Royal Bank of Canada restated an "outperform" rating and set a $6.00 price objective on shares of Petco Health and Wellness in a research note on Friday, December 20th. Finally, StockNews.com downgraded Petco Health and Wellness from a "buy" rating to a "hold" rating in a research report on Sunday, February 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Petco Health and Wellness has a consensus rating of "Hold" and an average target price of $4.16.

Petco Health and Wellness Stock Down 2.7 %

The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40. The firm has a market capitalization of $912.14 million, a price-to-earnings ratio of -7.28 and a beta of 1.88. The firm has a 50 day moving average of $3.69 and a two-hundred day moving average of $3.95.

Institutional Investors Weigh In On Petco Health and Wellness

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. New York State Common Retirement Fund lifted its stake in Petco Health and Wellness by 47.6% in the 4th 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 last quarter. Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of 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 in the last quarter. Swiss National Bank lifted its stake 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 last quarter. Renaissance Technologies LLC boosted its holdings in shares of Petco Health and Wellness by 0.5% during the 4th quarter. Renaissance Technologies LLC now owns 990,700 shares of the company's stock valued at $3,775,000 after acquiring an additional 5,100 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in Petco Health and Wellness by 14.3% during the 4th quarter. Bleakley Financial Group LLC now owns 45,122 shares of the company's stock worth $172,000 after acquiring an additional 5,660 shares during the last quarter.

Petco Health and Wellness Company Profile

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.