Chewy (NYSE:CHWY) Stock Rating Lowered by BNP Paribas

Chewy (NYSE:CHWY) was downgraded by equities researchers at BNP Paribas from an “outperform” rating to a “neutral” rating in a report issued on Thursday, Marketbeat.com reports.

Several other brokerages also recently issued reports on CHWY. JPMorgan Chase & Co. increased their price objective on shares of Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, August 29th. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and increased their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft boosted their price target on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Piper Sandler increased their price objective on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.15.

Chewy Trading Up 1.7 %

Shares of Chewy stock opened at $31.59 on Thursday. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The company has a market capitalization of $13.21 billion, a PE ratio of 38.51, a PEG ratio of 3.15 and a beta of 1.12. The stock’s fifty day simple moving average is $30.42 and its 200 day simple moving average is $27.06.

Chewy (NYSE:CHWY) last released its quarterly earnings data 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 21.00% and a net margin of 3.20%. The business had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter in the previous year, the business posted ($0.08) EPS. Chewy’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that Chewy will post 0.33 EPS for the current fiscal year.

Insider Activity at Chewy

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Satish Mehta sold 8,056 shares of Chewy 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 transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at approximately $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 ninety days, insiders sold 28,128,804 shares of company stock worth $827,019,626. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. California State Teachers Retirement System grew its position in shares of Chewy by 2.2% in the first quarter. California State Teachers Retirement System now owns 108,448 shares of the company’s stock valued at $1,725,000 after purchasing an additional 2,321 shares during the last quarter. Cetera Advisors LLC bought a new stake in Chewy in the 1st quarter valued at $334,000. SG Americas Securities LLC grew its holdings in Chewy by 125.6% in the 2nd quarter. SG Americas Securities LLC now owns 94,838 shares of the company’s stock valued at $2,583,000 after buying an additional 52,809 shares in the last quarter. Coastline Trust Co bought a new position in Chewy during the 2nd quarter worth $295,000. Finally, Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Chewy by 23.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company’s stock worth $652,000 after buying an additional 4,613 shares in the last quarter. 93.09% of the stock is owned by 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.