Chewy (NYSE:CHWY) Upgraded at Argus

Argus upgraded shares of Chewy (NYSE:CHWY) from a hold rating to a buy rating in a research note released on Thursday, Marketbeat.com reports.

Other equities research analysts have also issued research reports about the company. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and lifted their price objective for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. UBS Group lifted their target price on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft upped their price target on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Finally, Barclays increased their target price on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Chewy has an average rating of “Moderate Buy” and an average target price of $36.80.

Chewy Price Performance

Shares of Chewy stock opened at $39.25 on Thursday. The stock has a fifty day moving average price of $34.48 and a 200-day moving average price of $30.05. The firm has a market cap of $15.98 billion, a PE ratio of 43.13, a P/E/G ratio of 4.16 and a beta of 1.10. Chewy has a 1 year low of $14.69 and a 1 year high of $39.60.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the previous year, the company earned ($0.08) earnings per share. The company’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.

Insiders Place Their Bets

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $31.32, for a total transaction of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold a total of 28,103,513 shares of company stock valued at $916,453,941 over the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently modified their holdings of CHWY. Fifth Third Bancorp lifted its position in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. increased its stake in shares of Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after buying an additional 905 shares during the period. Planning Capital Management Corp bought a new stake in Chewy during the 3rd quarter valued at $52,000. Future Financial Wealth Managment LLC purchased a new stake in Chewy during the 3rd quarter valued at $62,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in Chewy in the 3rd quarter worth $63,000. 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.