Chewy’s (CHWY) Outperform Rating Reaffirmed at Wedbush

Wedbush reaffirmed their outperform rating on shares of Chewy (NYSE:CHWY) in a research note published on Thursday morning, Marketbeat.com reports. Wedbush currently has a $39.00 price target on the stock.

Several other analysts also recently issued reports on CHWY. Royal Bank of Canada lifted their price target on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. JMP Securities restated a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a report on Monday, December 16th. Seaport Res Ptn upgraded Chewy to a “hold” rating in a research note on Monday. Finally, Argus raised Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Stock Down 1.7 %

Shares of NYSE CHWY opened at $32.68 on Thursday. The firm has a market cap of $13.31 billion, a PE ratio of 35.91, a P/E/G ratio of 2.21 and a beta of 1.23. The company’s fifty day simple moving average is $36.00 and its 200 day simple moving average is $33.13. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. The company had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.07 EPS. On average, equities analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 9,285 shares of the company’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $40.00, for a total value of $371,400.00. Following the transaction, the chief executive officer now owns 489,750 shares in the company, valued at approximately $19,590,000. This represents a 1.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock worth $290,611,129 over the last three months. 2.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of CHWY. Vanguard Group Inc. boosted its holdings in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 shares during the period. FMR LLC boosted its stake in Chewy by 32.4% in the 4th quarter. FMR LLC now owns 5,288,757 shares of the company’s stock worth $177,120,000 after purchasing an additional 1,293,428 shares during the period. Bank of New York Mellon Corp grew its holdings in Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock valued at $150,345,000 after buying an additional 399,330 shares in the last quarter. Clearbridge Investments LLC increased its position in shares of Chewy by 47.4% during the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock valued at $129,495,000 after buying an additional 1,243,981 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its holdings in shares of Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after buying an additional 138,768 shares in the last quarter. Institutional investors 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.