Wedbush Reaffirms “Outperform” Rating for Chewy (NYSE:CHWY)

Chewy (NYSE:CHWY)‘s stock had its “outperform” rating restated by investment analysts at Wedbush in a research report issued to clients and investors on Monday,Benzinga reports. They presently have a $39.00 target price on the stock. Wedbush’s price target indicates a potential upside of 17.66% from the stock’s previous close.

A number of other analysts have also recently commented on CHWY. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Robert W. Baird boosted their price target on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Piper Sandler lifted their target price on Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and an average target price of $37.30.

Chewy Trading Down 0.4 %

Shares of NYSE:CHWY opened at $33.15 on Monday. The business has a 50-day moving average price of $36.61 and a two-hundred day moving average price of $32.87. The stock has a market capitalization of $13.50 billion, a P/E ratio of 36.51, a P/E/G ratio of 2.21 and a beta of 1.23. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09.

Insider Buying and Selling at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 71,161 shares of the business’s stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $32.50, for a total value of $2,312,732.50. Following the completion of the transaction, the chief executive officer now directly owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,797,494 shares of company stock worth $315,156,588. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently modified their holdings of CHWY. Banque Transatlantique SA purchased a new position in shares of Chewy during the fourth quarter valued at approximately $30,000. Fifth Third Bancorp grew its stake in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after acquiring an additional 444 shares in the last quarter. Blue Trust Inc. raised its holdings in shares of 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Chewy during the third quarter valued at about $63,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Chewy during the fourth quarter worth about $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.