Chewy’s (CHWY) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Chewy (NYSE:CHWY) in a report issued on Thursday morning, MarketBeat.com reports. They currently have a $39.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a report on Friday, January 3rd. Seaport Res Ptn raised Chewy to a “hold” rating in a research report on Monday, March 24th. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research report on Thursday. UBS Group boosted their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, BNP Paribas lowered shares of Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Chewy has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Trading Down 1.5 %

NYSE:CHWY opened at $32.20 on Thursday. The business’s 50-day moving average is $35.90 and its 200 day moving average is $33.21. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The company has a market capitalization of $13.11 billion, a P/E ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period in the prior year, the company earned $0.07 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Chewy will post 0.24 earnings per share for the current year.

Insider Activity

In other news, CEO Sumit Singh sold 4,000 shares of Chewy stock in a transaction on Friday, January 17th. The shares were sold at an average price of $37.52, for a total transaction of $150,080.00. Following the completion of the sale, the chief executive officer now directly owns 518,581 shares in the company, valued at approximately $19,457,159.12. The trade was a 0.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $35.77, for a total value of $250,390,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,083,269 shares of company stock worth $290,611,129. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Hedge funds and other institutional investors have recently made changes to their positions in the business. Banque Transatlantique SA purchased a new position in shares of Chewy during the 4th quarter valued at about $30,000. Fifth Third Bancorp raised its position in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after acquiring an additional 444 shares in the last quarter. Blue Trust Inc. lifted its holdings in Chewy by 22.9% in the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after acquiring an additional 320 shares during the period. Allworth Financial LP boosted its position in Chewy by 52.0% in the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock worth $71,000 after purchasing an additional 650 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Chewy during the 4th quarter worth approximately $67,000. Institutional investors and hedge funds 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.