Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 4.2% - Here's Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF - Get Free Report) traded down 4.2% during mid-day trading on Thursday . The company traded as low as $3.67 and last traded at $3.68. 918,212 shares were traded during trading, a decline of 75% from the average session volume of 3,742,638 shares. The stock had previously closed at $3.84.

Wall Street Analyst Weigh In

A number of research analysts recently commented on WOOF shares. Morgan Stanley upped their price objective on Petco Health and Wellness from $3.00 to $6.00 and gave the company an "equal weight" rating in a report on Friday, December 6th. 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 report on Friday, December 6th. Royal Bank of Canada restated an "outperform" rating and issued a $6.00 price objective on shares of Petco Health and Wellness in a report on Friday, December 20th. Wedbush increased their target price on shares of Petco Health and Wellness from $5.50 to $6.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Finally, StockNews.com raised Petco Health and Wellness from a "hold" rating to a "buy" rating in a research report on Monday, December 9th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Petco Health and Wellness has a consensus rating of "Hold" and an average target price of $4.25.

Petco Health and Wellness Stock Down 3.5 %

The firm has a market cap of $1.16 billion, a PE ratio of -9.26 and a beta of 1.90. 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 firm has a 50 day moving average price of $4.24 and a 200-day moving average price of $3.95.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Rhumbline Advisers lifted its position in shares of Petco Health and Wellness by 69.3% during the 2nd quarter. Rhumbline Advisers now owns 126,631 shares of the company's stock worth $479,000 after purchasing an additional 51,840 shares during the last quarter. Choreo LLC purchased a new stake in Petco Health and Wellness during the 2nd quarter worth about $45,000. American Century Companies Inc. boosted its holdings in Petco Health and Wellness by 50.6% in the second quarter. American Century Companies Inc. now owns 142,036 shares of the company's stock valued at $537,000 after purchasing an additional 47,750 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Petco Health and Wellness by 124.0% in the 2nd quarter. Renaissance Technologies LLC now owns 1,128,038 shares of the company's stock valued at $4,264,000 after buying an additional 624,338 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in Petco Health and Wellness in the second quarter valued at $78,000.

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.

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