Chewy (NYSE:CHWY) Upgraded by Wolfe Research to Outperform Rating

Chewy (NYSE:CHWY) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

A number of other equities research analysts also recently commented on the company. Piper Sandler lifted their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and raised their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Wedbush reaffirmed an “outperform” rating and set a $39.00 price target (up from $35.00) on shares of Chewy in a research report on Thursday, December 5th. Morgan Stanley upped their target price on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Finally, BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Eight equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Chewy Stock Up 1.1 %

Shares of Chewy stock opened at $33.87 on Friday. The company has a 50 day moving average price of $32.02 and a 200 day moving average price of $28.81. The firm has a market capitalization of $13.79 billion, a P/E ratio of 37.22, a PEG ratio of 4.28 and a beta of 1.12. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10.

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

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $35.00, for a total transaction of $2,490,635.00. Following the completion of the transaction, the chief executive officer now owns 6,677 shares of the company’s stock, valued at approximately $233,695. The trade was a 91.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,799,523 shares of company stock valued at $682,554,313 over the last ninety days. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several institutional investors and hedge funds have recently bought and sold shares of CHWY. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Chewy in the 2nd quarter worth $11,916,000. Sanctuary Advisors LLC purchased a new position in Chewy during the second quarter worth about $673,000. Eagle Asset Management Inc. lifted its position in Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares during the period. Marshall Wace LLP lifted its position in Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the period. Finally, Centiva Capital LP purchased a new stake in Chewy in the 3rd quarter valued at approximately $2,949,000. 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.