Chewy’s (CHWY) Market Outperform Rating Reaffirmed at JMP Securities

Chewy (NYSE:CHWY)‘s stock had its “market outperform” rating reiterated by JMP Securities in a report issued on Monday,Benzinga reports. They currently have a $37.00 target price on the stock. JMP Securities’ price objective would suggest a potential upside of 10.09% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Wedbush reiterated an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. 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. Raymond James downgraded Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, UBS Group increased their price objective on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Chewy Trading Up 0.2 %

Chewy stock opened at $33.61 on Monday. The firm has a market capitalization of $13.72 billion, a P/E ratio of 36.93, a P/E/G ratio of 4.28 and a beta of 1.12. The stock’s fifty day simple moving average is $30.92 and its 200-day simple moving average is $27.99. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. Chewy’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.08) EPS. Sell-side analysts predict that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 47,956,046 shares of company stock worth $1,448,008,845. 2.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Chewy

A number of large investors have recently bought and sold shares of CHWY. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy in the 2nd quarter valued at approximately $33,000. Blue Trust Inc. lifted its holdings in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Chewy during the 2nd quarter worth $44,000. First Horizon Advisors Inc. purchased a new stake in shares of Chewy during the 2nd quarter worth $48,000. Finally, Planning Capital Management Corp acquired a new position in shares of Chewy during the 3rd quarter worth $52,000. Hedge funds and other 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.