Chewy (NYSE:CHWY) Raised to “Outperform” at Mizuho

Mizuho upgraded shares of Chewy (NYSE:CHWY) from a neutral rating to an outperform rating in a research note published on Monday morning, MarketBeat.com reports. Mizuho currently has $42.00 price objective on the stock, up from their previous price objective of $24.00.

CHWY has been the topic of a number of other research reports. Wedbush reissued 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. Piper Sandler lifted their target price on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and raised their price target for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Finally, TD Cowen started coverage on Chewy in a research note on Wednesday, October 9th. They set a “buy” rating and a $38.00 price objective for the company. Seven investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and an average price target of $35.70.

Chewy Stock Performance

CHWY stock opened at $37.04 on Monday. Chewy has a one year low of $14.69 and a one year high of $39.10. The firm’s fifty day moving average is $32.54 and its 200 day moving average is $29.06. The firm has a market cap of $15.08 billion, a PE ratio of 40.70, a P/E/G ratio of 4.28 and a beta of 1.10.

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

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the completion of the transaction, the chief executive officer now owns 77,838 shares of the company’s stock, valued at $2,529,735. This trade represents a 47.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 21,799,523 shares of company stock worth $682,554,313. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Several hedge funds have recently added to or reduced their stakes in CHWY. Commonwealth Equity Services LLC raised its holdings in shares of Chewy by 20.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock valued at $1,327,000 after purchasing an additional 8,228 shares in the last quarter. Van ECK Associates Corp acquired a new stake in Chewy in the second quarter valued at $427,000. Natixis Advisors LLC lifted its holdings in Chewy by 81.9% during the 2nd quarter. Natixis Advisors LLC now owns 93,737 shares of the company’s stock worth $2,553,000 after buying an additional 42,211 shares during the last quarter. Arizona State Retirement System boosted its position in shares of Chewy by 15.3% during the 2nd quarter. Arizona State Retirement System now owns 38,087 shares of the company’s stock worth $1,037,000 after acquiring an additional 5,048 shares in the last quarter. Finally, PFG Investments LLC increased its holdings in shares of Chewy by 22.4% in the 2nd quarter. PFG Investments LLC now owns 13,189 shares of the company’s stock valued at $359,000 after acquiring an additional 2,416 shares during the last quarter. Institutional investors and hedge funds 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.