Chewy’s (CHWY) “Outperform” Rating Reaffirmed at Wedbush

Wedbush reiterated their outperform rating on shares of Chewy (NYSE:CHWY) in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has a $39.00 target price on the stock.

Other research analysts have also issued research reports about the company. JMP Securities reissued a “market outperform” rating and set a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. JPMorgan Chase & Co. upped their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Barclays upped their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. Finally, Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average price target of $37.30.

Chewy Stock Performance

CHWY stock opened at $33.05 on Monday. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The stock’s 50 day moving average price is $36.53 and its 200 day moving average price is $32.90. The firm has a market cap of $13.46 billion, a P/E ratio of 36.32, a PEG ratio of 2.21 and a beta of 1.23.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the transaction, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,797,494 shares of company stock valued at $315,156,588. Insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Large investors have recently bought and sold shares of the business. Mutual of America Capital Management LLC bought a new position in Chewy in the fourth quarter worth about $2,915,000. Eagle Asset Management Inc. lifted its holdings in Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares during the last quarter. Centiva Capital LP bought a new position in Chewy in the third quarter worth about $2,949,000. Raymond James Financial Inc. acquired a new stake in shares of Chewy in the fourth quarter valued at approximately $69,789,000. Finally, Geode Capital Management LLC raised its holdings in shares of Chewy by 8.4% during the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after buying an additional 119,633 shares during the last quarter. 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.