Chewy (NYSE:CHWY) Upgraded at Mizuho

Mizuho upgraded shares of Chewy (NYSE:CHWY) from a neutral rating to an outperform rating in a research report released on Monday, MarketBeat Ratings reports. Mizuho currently has $42.00 price target on the stock, up from their prior price target of $24.00.

CHWY has been the subject of several other research reports. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Royal Bank of Canada upped their price objective on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft increased their target price on Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Finally, Morgan Stanley lifted their price target on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy has an average rating of “Moderate Buy” and an average target price of $35.70.

Chewy Price Performance

Chewy stock opened at $36.19 on Monday. The business has a 50 day simple moving average of $32.92 and a 200-day simple moving average of $29.18. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a market capitalization of $14.74 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same quarter last year, the business earned ($0.08) EPS. The business’s revenue was up 5.2% on a year-over-year basis. As a group, equities research analysts anticipate that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In related news, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the sale, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. The trade was a 47.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 29,053,806 shares of company stock worth $942,139,713 in the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Hedge funds have recently made changes to their positions in the company. Commonwealth Equity Services LLC increased its stake in Chewy by 20.3% in the 2nd quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock valued at $1,327,000 after buying an additional 8,228 shares during the period. Van ECK Associates Corp acquired a new stake in shares of Chewy in the second quarter worth $427,000. Natixis Advisors LLC increased its holdings in shares of Chewy by 81.9% during the 2nd quarter. Natixis Advisors LLC now owns 93,737 shares of the company’s stock worth $2,553,000 after purchasing an additional 42,211 shares during the period. Arizona State Retirement System raised its holdings in Chewy by 15.3% in the 2nd quarter. Arizona State Retirement System now owns 38,087 shares of the company’s stock valued at $1,037,000 after acquiring an additional 5,048 shares in the last quarter. Finally, PFG Investments LLC lifted its position in Chewy by 22.4% in the second quarter. PFG Investments LLC now owns 13,189 shares of the company’s stock worth $359,000 after purchasing an additional 2,416 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.