Chewy (NYSE:CHWY) Upgraded at Wolfe Research

Wolfe Research upgraded shares of Chewy (NYSE:CHWY) from a peer perform rating to an outperform rating in a research report released on Friday morning, Marketbeat Ratings reports.

A number of other equities research analysts have also weighed in on the company. Morgan Stanley boosted their target price on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research report on Friday, November 22nd. The Goldman Sachs Group raised their target price on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Chewy Price Performance

Shares of CHWY opened at $35.96 on Friday. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10. The stock has a 50 day simple moving average of $32.34 and a two-hundred day simple moving average of $28.98. The firm has a market cap of $14.64 billion, a P/E ratio of 39.52, a P/E/G ratio of 4.28 and a beta of 1.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The firm’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) EPS. On average, equities analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the sale, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. The trade was a 1.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The disclosure for this sale can be found here. Insiders sold a total of 21,799,523 shares of company stock worth $682,554,313 in the last three months. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Chewy

Several institutional investors have recently bought and sold shares of CHWY. BC Partners Advisors L.P. purchased a new position in Chewy in the second quarter worth about $7,517,800,000. Marshall Wace LLP raised its holdings in Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock worth $78,801,000 after acquiring an additional 2,636,526 shares during the last quarter. FMR LLC lifted its position in Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after acquiring an additional 2,497,689 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in Chewy during the 2nd quarter valued at $40,798,000. Finally, Eagle Asset Management Inc. boosted its stake in Chewy by 97.9% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock valued at $60,485,000 after purchasing an additional 975,647 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Company Profile

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.