Chewy (NYSE:CHWY) Rating Increased to Outperform at Mizuho

Chewy (NYSE:CHWY) was upgraded by equities research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a report issued on Monday,Benzinga reports. The firm presently has a $42.00 target price on the stock, up from their previous target price of $24.00. Mizuho’s price objective suggests a potential upside of 16.80% from the company’s current price.

CHWY has been the topic of a number of other reports. Piper Sandler increased their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. TD Cowen started coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 target price on the stock. Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and upped their price target for the company from $28.00 to $40.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $35.70.

Chewy Stock Performance

Chewy stock opened at $35.96 on Monday. The stock has a market cap of $14.64 billion, a P/E ratio of 39.52, a PEG ratio of 4.28 and a beta of 1.10. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The firm’s fifty day moving average price is $32.34 and its 200-day moving average price is $28.98.

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. Sell-side analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction that occurred on Tuesday, December 24th. The shares were sold at an average price of $35.00, for a total value of $2,490,635.00. Following the transaction, the chief executive officer now directly owns 6,677 shares of the company’s stock, valued at approximately $233,695. This trade represents a 91.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 21,799,523 shares of company stock worth $682,554,313 in the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

A number of institutional investors have recently modified their holdings of the stock. Blue Trust Inc. boosted its stake in Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares in the last quarter. Planning Capital Management Corp bought a new position in shares of Chewy in the third quarter worth approximately $52,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Chewy during the third quarter valued at approximately $62,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy during the third quarter valued at approximately $63,000. Finally, Castleview Partners LLC bought a new position in Chewy in the 3rd quarter valued at approximately $76,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Company Profile

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.