Seaport Res Ptn Upgrades Chewy (NYSE:CHWY) to Hold

Chewy (NYSE:CHWY) was upgraded by equities researchers at Seaport Res Ptn to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Several other equities analysts have also weighed in on CHWY. Wolfe Research upgraded shares of Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and increased their target price for the company from $24.00 to $42.00 in a research report on Monday, January 6th. Morgan Stanley lifted their price target on shares of Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, January 13th. Evercore ISI raised Chewy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $34.00 to $47.00 in a report on Monday, January 13th. Finally, Royal Bank of Canada boosted their target price on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.95.

Chewy Trading Down 1.2 %

CHWY stock opened at $33.60 on Monday. The stock has a market cap of $13.68 billion, a P/E ratio of 36.92, a P/E/G ratio of 2.21 and a beta of 1.23. The stock’s fifty day simple moving average is $36.17 and its two-hundred day simple moving average is $33.14. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09.

Insider Transactions at Chewy

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now owns 262,853 shares of the company’s stock, valued at $9,357,566.80. The trade was a 21.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 4,000 shares of the stock in a transaction on Friday, January 17th. The shares were sold at an average price of $37.52, for a total value of $150,080.00. Following the completion of the transaction, the chief executive officer now directly owns 518,581 shares in the company, valued at approximately $19,457,159.12. This represents a 0.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 8,655,172 shares of company stock valued at $310,353,221. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Chewy

Hedge funds have recently added to or reduced their stakes in the business. Banque Transatlantique SA bought a new position in shares of Chewy during the fourth quarter valued at about $30,000. Fifth Third Bancorp grew its position in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares during the last quarter. Blue Trust Inc. increased its stake in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Chewy in the third quarter valued at approximately $63,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in Chewy during the 4th quarter valued at $67,000. 93.09% of the stock is owned by 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.