Chewy (NYSE:CHWY) Receives Outperform Rating from Wedbush

Wedbush restated their outperform rating on shares of Chewy (NYSE:CHWY) in a research note released on Thursday, MarketBeat reports. Wedbush currently has a $39.00 price objective on the stock.

A number of other research firms also recently weighed in on CHWY. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday. Piper Sandler lifted their price objective on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Seaport Res Ptn upgraded Chewy to a “hold” rating in a research report on Monday. Morgan Stanley raised their price target on Chewy from $38.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, January 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.68.

Chewy Price Performance

Shares of NYSE CHWY opened at $32.68 on Thursday. The firm has a market cap of $13.31 billion, a price-to-earnings ratio of 35.91, a P/E/G ratio of 2.21 and a beta of 1.23. The stock’s fifty day moving average price is $36.00 and its two-hundred day moving average price is $33.13. Chewy has a one year low of $14.69 and a one year high of $40.09.

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

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now directly owns 546,257 shares in the company, valued at $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,083,269 shares of company stock valued at $290,611,129 over the last quarter. 2.10% of the stock is owned by company insiders.

Institutional Trading of Chewy

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