Petco Health and Wellness (NASDAQ:WOOF) Shares Down 4.8% – What’s Next?

Petco Health and Wellness Company, Inc. (NASDAQ:WOOF)’s share price dropped 4.8% during mid-day trading on Monday . The company traded as low as $3.42 and last traded at $3.4450. Approximately 3,262,805 shares were traded during trading, an increase of 25% from the average daily volume of 2,602,248 shares. The stock had previously closed at $3.62.

Wall Street Analyst Weigh In

WOOF has been the subject of several research analyst reports. Jefferies Financial Group upgraded shares of Petco Health and Wellness from a “hold” rating to a “buy” rating and lifted their price objective for the company from $4.05 to $5.00 in a research note on Thursday. Evercore reduced their price target on shares of Petco Health and Wellness from $4.00 to $3.00 and set an “in-line” rating for the company in a report on Tuesday, February 3rd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Petco Health and Wellness in a report on Monday, December 29th. Finally, Citigroup raised their target price on Petco Health and Wellness from $3.50 to $4.00 and gave the company a “neutral” rating in a research note on Monday. Four investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.07.

Petco Health and Wellness Trading Down 7.5%

The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 112.17 and a beta of 1.75. The firm’s 50-day moving average is $2.72 and its 200-day moving average is $3.10. The company has a current ratio of 0.90, a quick ratio of 0.38 and a debt-to-equity ratio of 1.28.

Petco Health and Wellness (NASDAQ:WOOF) last released its quarterly earnings data on Wednesday, March 11th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.03). Petco Health and Wellness had a return on equity of 0.89% and a net margin of 0.15%.The business had revenue of $1.52 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter in the previous year, the company posted ($0.05) EPS. The business’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, sell-side analysts anticipate that Petco Health and Wellness Company, Inc. will post -0.22 EPS for the current fiscal year.

Hedge Funds Weigh In On Petco Health and Wellness

A number of hedge funds have recently added to or reduced their stakes in WOOF. Nuveen LLC increased its holdings 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 purchasing an additional 1,800,860 shares in the last quarter. Holocene Advisors LP lifted its holdings in shares of Petco Health and Wellness by 42.0% in the third quarter. Holocene Advisors LP now owns 6,091,656 shares of the company’s stock valued at $23,575,000 after purchasing an additional 1,800,583 shares in the last quarter. Candlestick Capital Management LP purchased a new position in shares of Petco Health and Wellness during the third quarter valued at approximately $6,772,000. Goldman Sachs Group Inc. grew its holdings in Petco Health and Wellness by 60.2% during the first quarter. Goldman Sachs Group Inc. now owns 3,637,695 shares of the company’s stock worth $11,095,000 after buying an additional 1,367,299 shares in the last quarter. Finally, Norges Bank bought a new stake in Petco Health and Wellness during the second quarter worth $3,770,000.

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.