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

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

Analysts Set New Price Targets

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

Petco Health and Wellness Price Performance

The stock has a 50-day simple moving average of $4.15 and a 200 day simple moving average of $3.98. The company has a market cap of $1.13 billion, a PE 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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in Petco Health and Wellness by 82.1% in the second quarter. AQR Capital Management LLC now owns 6,549,366 shares of the company’s stock valued at $22,661,000 after acquiring an additional 2,953,667 shares during the last quarter. Millennium Management LLC boosted its position in shares of Petco Health and Wellness by 233.7% in the 2nd quarter. Millennium Management LLC now owns 2,679,132 shares of the company’s stock valued at $10,127,000 after purchasing an additional 1,876,233 shares during the period. Point72 Asset Management L.P. grew its stake in Petco Health and Wellness by 1,212.7% during the 2nd quarter. Point72 Asset Management L.P. now owns 1,815,479 shares of the company’s stock worth $6,863,000 after buying an additional 1,677,179 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Petco Health and Wellness by 328.0% in the third quarter. JPMorgan Chase & Co. now owns 1,761,247 shares of the company’s stock valued at $8,014,000 after buying an additional 1,349,728 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in shares of Petco Health and Wellness during the fourth quarter worth approximately $4,516,000.

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.