Chewy (NYSE:CHWY) Stock Rating Upgraded by Evercore ISI

Chewy (NYSE:CHWY) was upgraded by research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report released on Monday, MarketBeat reports. The firm currently has a $47.00 price objective on the stock, up from their previous price objective of $34.00. Evercore ISI’s price objective points to a potential upside of 30.41% from the stock’s previous close.

Several other equities research analysts have also commented on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Wolfe Research upgraded Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group lifted their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. JPMorgan Chase & Co. upped their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $28.00 to $40.00 in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Chewy Stock Up 0.4 %

Shares of NYSE:CHWY opened at $36.04 on Monday. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 39.60, a PEG ratio of 4.28 and a beta of 1.10. The business has a 50-day moving average price of $33.56 and a 200-day moving average price of $29.40.

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. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the company earned ($0.08) EPS. Chewy’s quarterly revenue was up 5.2% on a year-over-year basis. As a group, equities analysts anticipate that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction dated Monday, December 2nd. The shares were 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 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 disclosure for this sale can be found here. In the last three months, insiders have sold 27,803,806 shares of company stock worth $905,389,713. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Commonwealth Equity Services LLC lifted its position in Chewy by 20.3% during the second quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock worth $1,327,000 after buying an additional 8,228 shares in the last quarter. Choreo LLC purchased a new position in shares of Chewy during the 2nd quarter worth $205,000. American Century Companies Inc. boosted its position in shares of Chewy by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock valued at $793,000 after acquiring an additional 9,166 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Chewy in the second quarter valued at about $380,000. Finally, Envestnet Asset Management Inc. increased its position in Chewy by 243.6% during the second quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock worth $4,513,000 after purchasing an additional 117,454 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.