Evercore ISI upgraded shares of Chewy (NYSE:CHWY – Free Report) from an in-line rating to an outperform rating in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have $47.00 target price on the stock, up from their previous target price of $34.00.
Several other research firms also recently issued reports on CHWY. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Morgan Stanley upped their target price on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Barclays upped their target price on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $36.80.
View Our Latest Research Report on Chewy
Chewy Trading Down 1.5 %
Chewy (NYSE:CHWY – Get Free Report) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.08) earnings per share. On average, sell-side analysts predict that Chewy will post 0.24 earnings per share for the current year.
Insider Activity at Chewy
In other news, CEO Sumit Singh sold 63,187 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the transaction, the chief executive officer now owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. The trade was a 8.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,803,806 shares of company stock worth $905,389,713. Company insiders own 2.10% of the company’s stock.
Institutional Trading of Chewy
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the last quarter. Planning Capital Management Corp bought a new stake in Chewy in the third quarter valued at approximately $52,000. Future Financial Wealth Managment LLC bought a new stake in Chewy in the third quarter valued at approximately $62,000. Wilmington Savings Fund Society FSB bought a new stake in Chewy in the third quarter valued at approximately $63,000. Finally, Castleview Partners LLC bought a new stake in Chewy in the third quarter valued at approximately $76,000. Hedge funds and other institutional investors 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.
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