Petco Health and Wellness (NASDAQ:WOOF) Stock Price Down 3.1% – Here’s What Happened

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) fell 3.1% during trading on Monday . The stock traded as low as $3.29 and last traded at $3.26. 182,957 shares changed hands during trading, a decline of 96% from the average session volume of 4,667,847 shares. The stock had previously closed at $3.36.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Citigroup reduced their price target on shares of Petco Health and Wellness from $5.00 to $2.75 and set a “neutral” rating for the company in a research report on Tuesday, March 18th. Morgan Stanley lowered their price objective 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. StockNews.com raised shares of Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Thursday, March 20th. Wedbush lowered their price target on Petco Health and Wellness from $6.00 to $4.00 and set an “outperform” rating on the stock in a report on Thursday, March 27th. Finally, The Goldman Sachs Group lifted their price objective on Petco Health and Wellness from $4.00 to $4.48 and gave the stock a “buy” rating in a report on Thursday, March 27th. Five analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $4.11.

Petco Health and Wellness Stock Down 6.7 %

The company has a fifty day simple moving average of $2.83 and a 200-day simple moving average of $3.78. 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 cap of $959.15 million, a P/E ratio of -7.65 and a beta of 1.74.

Institutional Investors Weigh In On Petco Health and Wellness

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Petco Health and Wellness by 269.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,242,546 shares of the company’s stock worth $12,354,000 after purchasing an additional 2,365,654 shares in the last quarter. Norges Bank bought a new position in Petco Health and Wellness in the 4th quarter worth $8,864,000. Bridgeway Capital Management LLC purchased a new stake in Petco Health and Wellness in the 4th quarter worth $8,604,000. Driehaus Capital Management LLC purchased a new position in shares of Petco Health and Wellness in the fourth quarter valued at about $6,887,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Petco Health and Wellness by 513.6% in the fourth quarter. Nuveen Asset Management LLC now owns 2,102,175 shares of the company’s stock worth $8,009,000 after acquiring an additional 1,759,570 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.