Petco Health and Wellness (NASDAQ:WOOF) Shares Down 3.1% - What's Next?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) dropped 3.1% on Monday . The company traded as low as $3.29 and last traded at $3.26. Approximately 182,957 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 4,667,847 shares. The stock had previously closed at $3.36.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on WOOF shares. The Goldman Sachs Group increased their target price on Petco Health and Wellness from $4.00 to $4.48 and gave the stock a "buy" rating in a research report on Thursday, March 27th. Citigroup lowered their target price on shares of Petco Health and Wellness from $5.00 to $2.75 and set a "neutral" rating for the company in a report on Tuesday, March 18th. UBS Group cut their price target on shares of Petco Health and Wellness from $5.50 to $3.25 and set a "neutral" rating on the stock in a research note on Thursday, March 27th. Wedbush dropped their price objective on Petco Health and Wellness from $6.00 to $4.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. Finally, Morgan Stanley cut their target price on 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. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.11.

Petco Health and Wellness Stock Performance

The firm has a 50-day simple moving average of $2.83 and a two-hundred day simple moving average of $3.76. The company has a current ratio of 0.84, a quick ratio of 0.22 and a debt-to-equity ratio of 1.40. The company has a market capitalization of $973.74 million, a price-to-earnings ratio of -7.73 and a beta of 1.74.

Institutional Trading of Petco Health and Wellness

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its position in Petco Health and Wellness by 9.2% during the third quarter. Geode Capital Management LLC now owns 2,212,292 shares of the company's stock worth $10,068,000 after purchasing an additional 186,230 shares during the period. Sanctuary Advisors LLC bought a new stake in Petco Health and Wellness during the third quarter valued at about $66,000. Franklin Resources Inc. grew its position in shares of Petco Health and Wellness by 362.3% in the third quarter. Franklin Resources Inc. now owns 64,850 shares of the company's stock valued at $305,000 after purchasing an additional 50,821 shares during the last quarter. Principal Financial Group Inc. acquired a new stake in shares of Petco Health and Wellness in the third quarter valued at about $728,000. Finally, JPMorgan Chase & Co. increased its stake in shares of Petco Health and Wellness by 328.0% in the third quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company's stock worth $8,014,000 after purchasing an additional 1,349,728 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.