Chewy (NYSE:CHWY) Stock Rating Upgraded by Wolfe Research

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

A number of other research firms also recently weighed in on CHWY. Morgan Stanley lifted their target price on Chewy from $33.00 to $36.00 and gave the stock an “overweight” rating in a report on Monday, November 25th. TD Cowen began coverage on Chewy in a research report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and issued a $39.00 price objective (up from $35.00) on shares of Chewy in a report on Thursday, December 5th. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average target price of $34.60.

Chewy Stock Up 6.2 %

NYSE:CHWY opened at $35.96 on Friday. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The stock’s 50 day moving average price is $32.34 and its two-hundred day moving average price is $28.94. The firm has a market capitalization of $14.64 billion, a price-to-earnings ratio of 39.52, a P/E/G ratio of 4.28 and a beta of 1.12.

Chewy (NYSE:CHWY) last posted its 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. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the company posted ($0.08) EPS. Chewy’s quarterly revenue was up 5.2% compared to the same quarter last year. Equities research analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. This trade represents a 47.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The disclosure for this sale can be found here. Insiders have sold 21,799,523 shares of company stock valued at $682,554,313 in the last 90 days. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Several large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its holdings in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares in the last quarter. Planning Capital Management Corp bought a new stake in Chewy during the third quarter worth $52,000. Future Financial Wealth Managment LLC bought a new stake in Chewy during the third quarter worth $62,000. Wilmington Savings Fund Society FSB bought a new position in Chewy during the 3rd quarter valued at $63,000. Finally, Castleview Partners LLC purchased a new position in Chewy during the 3rd quarter worth $76,000. 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.