Wedbush Reaffirms “Outperform” Rating for Chewy (NYSE:CHWY)

Wedbush reiterated their outperform rating on shares of Chewy (NYSE:CHWY) in a report issued on Monday morning,Benzinga reports. They currently have a $39.00 price target on the stock.

Other equities research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft boosted their target price on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a report on Friday, November 22nd. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. BNP Paribas cut Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. JMP Securities reaffirmed a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Chewy currently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Chewy Price Performance

Shares of NYSE:CHWY opened at $33.05 on Monday. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The stock has a market cap of $13.46 billion, a price-to-earnings ratio of 36.32, a PEG ratio of 2.21 and a beta of 1.23. The stock’s 50 day moving average price is $36.53 and its 200 day moving average price is $32.90.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares of the company’s stock, valued at $9,357,566.80. The trade was a 21.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 4,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $37.52, for a total transaction of $150,080.00. Following the transaction, the chief executive officer now directly owns 518,581 shares of the company’s stock, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 8,797,494 shares of company stock worth $315,156,588. Corporate insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Mutual of America Capital Management LLC acquired a new position in shares of Chewy during the fourth quarter valued at about $2,915,000. Eagle Asset Management Inc. raised its position in shares of Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after buying an additional 975,647 shares during the last quarter. Centiva Capital LP acquired a new position in shares of Chewy during the third quarter valued at about $2,949,000. Raymond James Financial Inc. acquired a new position in shares of Chewy during the fourth quarter valued at about $69,789,000. Finally, Geode Capital Management LLC raised its position in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after buying an additional 119,633 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.