Chewy (NYSE:CHWY) Rating Increased to Outperform at Wolfe Research

Chewy (NYSE:CHWY) was upgraded by research analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Friday,Briefing.com Automated Import reports.

CHWY has been the subject of a number of other research reports. Morgan Stanley boosted their target price on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Wedbush reiterated an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of Chewy in a report on Thursday, December 5th. The Goldman Sachs Group raised their price target on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price for the company. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.00 to $40.00 in a report on Friday, November 8th. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $34.60.

Chewy Price Performance

Shares of CHWY stock opened at $33.87 on Friday. The stock has a market capitalization of $13.79 billion, a price-to-earnings ratio of 37.22, a PEG ratio of 4.28 and a beta of 1.12. The company’s fifty day simple moving average is $32.02 and its two-hundred day simple moving average is $28.81. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the firm posted ($0.08) EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Equities research analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the transaction, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,799,523 shares of company stock valued at $682,554,313. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several institutional investors and hedge funds have recently made changes to their positions in CHWY. BC Partners Advisors L.P. purchased a new stake in shares of Chewy in the 2nd quarter worth approximately $7,517,800,000. Marshall Wace LLP lifted its holdings in Chewy by 1,028.6% during the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after buying an additional 2,636,526 shares during the period. FMR LLC boosted its position in Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Chewy in the 2nd quarter valued at $40,798,000. Finally, Eagle Asset Management Inc. raised its position in shares of Chewy by 97.9% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

About Chewy

Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. It provides pet food and treats, pet supplies and pet medications, and other pet-health products, as well as pet services for dogs, cats, fish, birds, small pets, horses, and reptiles through its retail websites and mobile applications.