Chewy (NYSE:CHWY) Upgraded by Rosenblatt Securities to “Hold” Rating

Chewy (NYSE:CHWY) was upgraded by research analysts at Rosenblatt Securities to a “hold” rating in a research report issued on Wednesday,Zacks.com reports.

Several other equities research analysts have also recently weighed in on CHWY. Weiss Ratings cut Chewy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, July 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a research note on Thursday, June 11th. Zacks Research upgraded Chewy from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 11th. Guggenheim reissued a “buy” rating and set a $45.00 target price on shares of Chewy in a research report on Monday, April 27th. Finally, Mizuho cut their target price on Chewy from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $31.73.

Chewy Trading Down 0.8%

Shares of NYSE CHWY opened at $23.79 on Wednesday. Chewy has a 12-month low of $17.40 and a 12-month high of $43.50. The firm’s 50-day moving average price is $21.12 and its 200-day moving average price is $23.38. The stock has a market capitalization of $9.74 billion, a price-to-earnings ratio of 39.65, a P/E/G ratio of 1.21 and a beta of 1.42.

Insider Transactions at Chewy

In other news, General Counsel Da-Wai Hu sold 4,203 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the sale, the general counsel directly owned 4,103 shares in the company, valued at approximately $79,967.47. This represents a 50.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.34% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio purchased a new stake in shares of Chewy during the second quarter valued at $1,324,000. Globeflex Capital L P purchased a new position in Chewy in the 2nd quarter worth about $109,000. Handelsbanken Fonder AB increased its stake in Chewy by 0.6% in the 2nd quarter. Handelsbanken Fonder AB now owns 82,700 shares of the company’s stock worth $1,625,000 after buying an additional 500 shares during the period. Gradient Investments LLC lifted its holdings in Chewy by 42.5% during the 2nd quarter. Gradient Investments LLC now owns 58,295 shares of the company’s stock valued at $1,145,000 after buying an additional 17,390 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in Chewy by 7.7% during the 2nd quarter. 180 Wealth Advisors LLC now owns 10,764 shares of the company’s stock valued at $212,000 after buying an additional 765 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.