Petco Health and Wellness (NASDAQ:WOOF) Shares Down 5.9% – Time to Sell?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price traded down 5.9% during trading on Wednesday . The company traded as low as $3.57 and last traded at $3.58. 2,204,300 shares traded hands during trading, a decline of 39% from the average session volume of 3,592,958 shares. The stock had previously closed at $3.80.

Wall Street Analyst Weigh In

WOOF has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Petco Health and Wellness from $3.00 to $5.00 and gave the stock an “equal weight” rating in a research note on Friday, December 6th. Wedbush lifted their price objective on Petco Health and Wellness from $5.50 to $6.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Morgan Stanley cut their target price on Petco Health and Wellness from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $6.00 price target on shares of Petco Health and Wellness in a research note on Friday, December 20th. Finally, StockNews.com upgraded Petco Health and Wellness from a “hold” rating to a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Petco Health and Wellness has a consensus rating of “Hold” and a consensus price target of $4.16.

Petco Health and Wellness Stock Performance

The stock has a fifty day moving average price of $4.15 and a two-hundred day moving average price of $3.98. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of -9.00 and a beta of 1.90. The company has a quick ratio of 0.22, a current ratio of 0.84 and a debt-to-equity ratio of 1.40.

Hedge Funds Weigh In On Petco Health and Wellness

A number of institutional investors have recently modified their holdings of the company. American Century Companies Inc. raised its holdings in Petco Health and Wellness by 50.6% in the 2nd quarter. American Century Companies Inc. now owns 142,036 shares of the company’s stock valued at $537,000 after acquiring an additional 47,750 shares during the last quarter. Vanguard Personalized Indexing Management LLC acquired a new stake in Petco Health and Wellness in the 2nd quarter worth about $78,000. AQR Capital Management LLC grew its holdings in Petco Health and Wellness by 82.1% in the 2nd quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after buying an additional 2,953,667 shares during the period. Dark Forest Capital Management LP acquired a new position in shares of Petco Health and Wellness during the 2nd quarter valued at about $93,000. Finally, Millennium Management LLC lifted its holdings in shares of Petco Health and Wellness by 233.7% during the 2nd quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock worth $10,127,000 after acquiring an additional 1,876,233 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.