Petco Health and Wellness (NASDAQ:WOOF) Trading Down 4.3% – Here’s Why

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price dropped 4.3% during trading on Tuesday . The company traded as low as $2.77 and last traded at $2.7550. 666,938 shares were traded during trading, a decline of 68% from the average session volume of 2,109,277 shares. The stock had previously closed at $2.88.

Analysts Set New Price Targets

WOOF has been the subject of several analyst reports. Wall Street Zen upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a report on Saturday, July 4th. Citigroup lowered their price target on shares of Petco Health and Wellness from $4.00 to $3.25 and set a “neutral” rating on the stock in a research report on Thursday, June 4th. Weiss Ratings reissued a “sell (d)” rating on shares of Petco Health and Wellness in a report on Thursday, June 11th. Finally, Zacks Research cut shares of Petco Health and Wellness from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $3.88.

Petco Health and Wellness Trading Up 0.4%

The firm has a market cap of $895.71 million, a price-to-earnings ratio of 138.57, a price-to-earnings-growth ratio of 3.20 and a beta of 1.54. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.29 and a current ratio of 0.85. The company has a 50 day moving average price of $2.70 and a 200 day moving average price of $2.73.

Insiders Place Their Bets

In other Petco Health and Wellness news, insider Holly May sold 200,000 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $2.54, for a total transaction of $508,000.00. Following the completion of the transaction, the insider owned 1,327,867 shares of the company’s stock, valued at $3,372,782.18. This trade represents a 13.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold a total of 450,000 shares of company stock worth $1,145,500 over the last ninety days. Company insiders own 6.50% of the company’s stock.

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds have recently made changes to their positions in WOOF. Nuveen LLC lifted its stake in Petco Health and Wellness by 81.9% during the 4th quarter. Nuveen LLC now owns 3,998,724 shares of the company’s stock worth $11,236,000 after acquiring an additional 1,800,860 shares in the last quarter. Holocene Advisors LP boosted its holdings in Petco Health and Wellness by 42.0% during the 3rd quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock valued at $23,575,000 after acquiring an additional 1,800,583 shares during the period. Hillsdale Investment Management Inc. acquired a new position in Petco Health and Wellness in the 1st quarter valued at about $3,883,000. Goldman Sachs Group Inc. grew its position in Petco Health and Wellness by 60.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock valued at $11,095,000 after acquiring an additional 1,367,299 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in Petco Health and Wellness during the fourth quarter worth about $2,692,000.

Petco Health and Wellness Company Profile

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.