Chewy (NYSE:CHWY) Stock Rating Upgraded by Wolfe Research

Wolfe Research upgraded shares of Chewy (NYSE:CHWY) from a peer perform rating to an outperform rating in a report issued on Friday morning, MarketBeat reports.

Several other research analysts have also recently issued reports on the company. The Goldman Sachs Group raised their target price on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research report on Thursday, December 5th. Royal Bank of Canada raised their price objective on shares of Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. UBS Group lifted their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Eight research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $34.60.

Chewy Stock Up 6.2 %

Shares of Chewy stock opened at $35.96 on Friday. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The company’s 50 day moving average is $32.34 and its 200 day moving average is $28.98. The company has a market cap of $14.64 billion, a price-to-earnings ratio of 39.52, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm 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 company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.08) EPS. Sell-side analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Sumit Singh sold 571,903 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $34.52, for a total value of $19,742,091.56. Following the transaction, the chief executive officer now owns 898,222 shares of the company’s stock, valued at $31,006,623.44. This represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 21,799,523 shares of company stock worth $682,554,313. 2.10% of the stock is owned by insiders.

Institutional Trading of Chewy

Several hedge funds have recently made changes to their positions in CHWY. Blue Trust Inc. increased its stake in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the last quarter. Planning Capital Management Corp bought a new position in Chewy during the third quarter valued at $52,000. Future Financial Wealth Managment LLC purchased a new stake in Chewy in the 3rd quarter worth about $62,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Chewy during the third quarter valued at $63,000. Finally, Castleview Partners LLC purchased a new position in shares of Chewy during the third quarter worth approximately $76,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.