Chewy (NYSE:CHWY) Raised to Buy at Argus

Chewy (NYSE:CHWY) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a report released on Thursday, Marketbeat.com reports.

Several other research firms have also recently weighed in on CHWY. Bank of America raised shares of Chewy from an “underperform” rating to a “buy” rating and raised their target price for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Royal Bank of Canada raised their target price on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Barclays raised their target price on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. Finally, Robert W. Baird raised their price target on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.80.

Chewy Stock Up 3.3 %

Shares of CHWY opened at $39.25 on Thursday. The stock has a market capitalization of $15.98 billion, a P/E ratio of 43.13, a P/E/G ratio of 4.16 and a beta of 1.10. Chewy has a twelve month low of $14.69 and a twelve month high of $39.60. The company has a 50 day moving average of $34.33 and a 200-day moving average of $29.95.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate 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 period last year, the business earned ($0.08) EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 13,472 shares of the firm’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $37.55, for a total value of $505,873.60. Following the transaction, the chief executive officer now owns 505,109 shares in the company, valued at approximately $18,966,842.95. This trade represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Satish Mehta sold 8,056 shares of Chewy stock in a transaction dated 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 transaction, the chief technology officer now owns 585,962 shares in the company, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,103,513 shares of company stock worth $916,453,941. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in Chewy by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after acquiring an additional 301 shares during the last quarter. Blue Trust Inc. grew its position in Chewy by 22.9% in the fourth 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 last quarter. Fifth Third Bancorp grew 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 acquiring an additional 444 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after purchasing an additional 923 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in shares of Chewy by 10.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after purchasing an additional 1,029 shares during the last quarter. 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.