Petco Health and Wellness (NASDAQ:WOOF) Trading Down 5.6%

Shares of Petco Health and Wellness Company, Inc. (NASDAQ:WOOF) traded down 5.6% during mid-day trading on Tuesday . The company traded as low as $3.18 and last traded at $3.18. 1,165,807 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,956,633 shares. The stock had previously closed at $3.37.

Analyst Ratings Changes

WOOF has been the subject of a number of research reports. Evercore ISI decreased their price target on Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a research note on Friday, March 15th. Wedbush reaffirmed an “outperform” rating and set a $4.00 price target on shares of Petco Health and Wellness in a research note on Wednesday, May 29th. Robert W. Baird decreased their price target on Petco Health and Wellness from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Thursday, March 14th. Royal Bank of Canada increased their price target on Petco Health and Wellness from $2.70 to $3.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Finally, Citigroup decreased their price target on Petco Health and Wellness from $2.85 to $1.75 and set a “neutral” rating for the company in a research note on Tuesday, May 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Petco Health and Wellness currently has a consensus rating of “Hold” and an average price target of $3.09.

Petco Health and Wellness Price Performance

The business has a 50-day moving average price of $2.92 and a 200 day moving average price of $2.62. The company has a market cap of $985.18 million, a price-to-earnings ratio of -0.64 and a beta of 1.89. The company has a current ratio of 0.85, a quick ratio of 0.21 and a debt-to-equity ratio of 1.35.

Petco Health and Wellness (NASDAQ:WOOF) last released its earnings results on Wednesday, May 22nd. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The company had revenue of $1.53 billion during the quarter, compared to analyst estimates of $1.50 billion. Petco Health and Wellness had a negative return on equity of 4.22% and a negative net margin of 21.27%. As a group, research analysts expect that Petco Health and Wellness Company, Inc. will post -0.24 earnings per share for the current fiscal year.

Insider Activity

In other Petco Health and Wellness news, Director Cameron Breitner bought 750,000 shares of Petco Health and Wellness stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $3.14 per share, for a total transaction of $2,355,000.00. Following the completion of the acquisition, the director now directly owns 750,000 shares of the company’s stock, valued at $2,355,000. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.

Institutional Trading of Petco Health and Wellness

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Petco Health and Wellness by 15.8% in the first quarter. Vanguard Group Inc. now owns 9,208,064 shares of the company’s stock worth $20,994,000 after acquiring an additional 1,254,554 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Petco Health and Wellness by 73.4% in the third quarter. AQR Capital Management LLC now owns 5,225,206 shares of the company’s stock worth $21,084,000 after acquiring an additional 2,210,988 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of Petco Health and Wellness in the first quarter worth $4,091,000. SG Americas Securities LLC increased its stake in shares of Petco Health and Wellness by 157.3% in the first quarter. SG Americas Securities LLC now owns 1,066,507 shares of the company’s stock worth $2,432,000 after acquiring an additional 652,080 shares during the last quarter. Finally, ProShare Advisors LLC increased its stake in shares of Petco Health and Wellness by 113.9% in the first quarter. ProShare Advisors LLC now owns 862,637 shares of the company’s stock worth $1,967,000 after acquiring an additional 459,257 shares during the last quarter.

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.