Chewy (NYSE:CHWY) Upgraded by Argus to Buy Rating

Argus upgraded shares of Chewy (NYSE:CHWY) from a hold rating to a buy rating in a report released on Thursday morning, MarketBeat.com reports.

A number of other research firms have also issued reports on CHWY. Royal Bank of Canada lifted their target price on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Robert W. Baird upped their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Wedbush reiterated an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Finally, Evercore ISI raised shares of 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 research report on Monday, January 13th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Chewy Price Performance

Shares of Chewy stock opened at $37.99 on Thursday. The stock has a market capitalization of $15.47 billion, a price-to-earnings ratio of 41.75, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. The business has a 50-day moving average of $34.22 and a 200 day moving average of $29.89. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The firm 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 business’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) earnings per share. Equities research analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling

In related news, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the transaction, the chief technology officer now owns 585,962 shares of the company’s stock, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Insiders sold a total of 28,090,041 shares of company stock worth $915,948,068 in the last 90 days. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Institutional investors have recently added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC grew its holdings in Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after buying an additional 301 shares during the period. Blue Trust Inc. grew 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 purchasing an additional 320 shares during the period. Fifth Third Bancorp increased its position in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in Chewy by 0.3% during the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock worth $8,156,000 after purchasing an additional 923 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after purchasing an additional 1,029 shares during the last quarter. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.