Chewy (NYSE:CHWY) Rating Increased to Outperform at Wolfe Research

Wolfe Research upgraded shares of Chewy (NYSE:CHWY) from a peer perform rating to an outperform rating in a research note published on Friday morning, Marketbeat.com reports.

A number of other research firms have also recently commented on CHWY. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a report on Thursday, December 5th. JMP Securities reissued a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a research note on Monday, December 16th. Royal Bank of Canada boosted their target price on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Wedbush reiterated an “outperform” rating and issued a $39.00 price target (up from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, BNP Paribas cut Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $34.60.

Chewy Trading Up 6.2 %

Shares of Chewy stock opened at $35.96 on Friday. The company has a 50 day moving average of $32.16 and a 200-day moving average of $28.84. The company has a market cap of $14.64 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the business posted ($0.08) EPS. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Insider Transactions at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction that occurred on 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 owns 585,962 shares in the company, valued at $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,799,523 shares of company stock valued at $682,554,313. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently made changes to their positions in the stock. BC Partners Advisors L.P. acquired a new stake in shares of Chewy in the 2nd quarter valued at about $7,517,800,000. FMR LLC grew its position in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the period. Marshall Wace LLP grew its position in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the period. ArrowMark Colorado Holdings LLC raised its holdings in Chewy by 5.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after buying an additional 138,768 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of Chewy by 8.7% in the second quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company’s stock valued at $68,693,000 after buying an additional 200,900 shares in the last quarter. Institutional investors and hedge funds 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.