Chewy (NYSE:CHWY) Upgraded by Wolfe Research to Outperform Rating

Chewy (NYSE:CHWY) was upgraded by analysts at Wolfe Research from a “peer perform” rating to an “outperform” rating in a research report issued to clients and investors on Friday, MarketBeat reports.

Other equities research analysts have also issued research reports about the stock. Barclays raised their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. UBS Group boosted their target price on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research note on Tuesday, December 3rd. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and increased their price target for the stock from $24.00 to $40.00 in a research note on Wednesday, November 20th. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $37.00 target price on shares of Chewy in a research note on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Chewy Trading Up 6.2 %

Shares of Chewy stock opened at $35.96 on Friday. The business’s fifty day simple moving average is $32.34 and its 200 day simple moving average is $28.94. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The firm has a market capitalization of $14.64 billion, a P/E ratio of 39.52, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.08) EPS. Analysts predict that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Satish Mehta sold 8,056 shares of the company’s 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 completion of the sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, 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. In the last quarter, insiders have sold 21,799,523 shares of company stock worth $682,554,313. 2.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Chewy

A number of large investors have recently added to or reduced their stakes in CHWY. BC Partners Advisors L.P. purchased a new stake in Chewy during the second quarter valued at about $7,517,800,000. FMR LLC grew its position in Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after acquiring an additional 2,497,689 shares during the last quarter. Marshall Wace LLP increased its stake in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after purchasing an additional 2,636,526 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after purchasing an additional 138,768 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in shares of Chewy by 8.7% during the second quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company’s stock valued at $68,693,000 after purchasing an additional 200,900 shares during the period. 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.