Chewy’s (CHWY) “Outperform” Rating Reaffirmed at Wedbush

Chewy (NYSE:CHWY)‘s stock had its “outperform” rating reaffirmed by analysts at Wedbush in a research report issued on Thursday, Marketbeat reports. They presently have a $39.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 21.11% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. UBS Group lifted their target price on Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Barclays lifted their price objective on shares of Chewy from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Thursday. Morgan Stanley increased their target price on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, January 13th. The Goldman Sachs Group lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, December 5th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Thursday. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Stock Performance

Shares of NYSE CHWY opened at $32.20 on Thursday. The company’s 50 day moving average price is $35.90 and its 200-day moving average price is $33.17. Chewy has a 52-week low of $14.69 and a 52-week high of $40.09. The company has a market capitalization of $13.11 billion, a P/E ratio of 35.39, a price-to-earnings-growth ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same quarter in the previous year, the business earned $0.07 earnings per share. Chewy’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 9,285 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total transaction of $371,400.00. Following the completion of the transaction, the chief executive officer now owns 489,750 shares in the company, valued at approximately $19,590,000. The trade was a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,083,269 shares of company stock valued at $290,611,129 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds have recently modified their holdings of the stock. Banque Transatlantique SA purchased a new stake in Chewy in the fourth quarter worth $30,000. Fifth Third Bancorp raised its stake in Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares during the period. Blue Trust Inc. raised its stake in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after acquiring an additional 320 shares during the period. Allworth Financial LP lifted its holdings in Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Chewy during the fourth quarter worth about $67,000. Institutional investors own 93.09% of the company’s stock.

About Chewy

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.