Wedbush reiterated their outperform rating on shares of Chewy (NYSE:CHWY – Free Report) 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.
Check Out Our Latest Analysis on CHWY
Chewy Stock Performance
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.
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