Chewy (NYSE:CHWY) Earns “Outperform” Rating from Wedbush

Chewy (NYSE:CHWY)‘s stock had its “outperform” rating reiterated by investment analysts at Wedbush in a research report issued to clients and investors on Thursday,RTT News reports. They currently have a $39.00 target price on the stock, up from their prior target price of $35.00. Wedbush’s price target would indicate a potential upside of 23.46% from the stock’s previous close.

A number of other research analysts also recently weighed in on CHWY. Raymond James downgraded Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. UBS Group raised their price objective on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their target price 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. Finally, Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus target price of $34.15.

Chewy Stock Up 1.7 %

Shares of Chewy stock opened at $31.59 on Thursday. The business has a 50 day moving average of $30.42 and a 200 day moving average of $27.06. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10. The company has a market cap of $13.21 billion, a PE ratio of 38.51, a P/E/G ratio of 3.15 and a beta of 1.12.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. During the same period in the prior year, the business earned ($0.08) EPS. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. On average, research analysts anticipate that Chewy will post 0.33 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, 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 90 days, insiders sold 28,128,804 shares of company stock valued at $827,019,626. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently made changes to their positions in CHWY. BC Partners Advisors L.P. bought a new stake in Chewy during the second quarter valued at about $7,517,800,000. Marshall Wace LLP lifted its position in shares of Chewy by 1,028.6% during the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares in the last quarter. FMR LLC grew its stake in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares during the period. Fiera Capital Corp purchased a new stake in Chewy in the 2nd quarter worth approximately $44,373,000. Finally, Clearbridge Investments LLC bought a new stake in Chewy during the 2nd quarter worth approximately $40,798,000. 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.