Chewy (NYSE:CHWY) Upgraded at Seaport Res Ptn

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

Other analysts also recently issued reports about the stock. Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $34.00 to $47.00 in a report on Monday, January 13th. Royal Bank of Canada increased their price target on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Wedbush reissued an “outperform” rating and issued a $39.00 price objective on shares of Chewy in a research note on Monday, March 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $37.00 target price 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 assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $37.95.

Chewy Stock Up 0.4 %

NYSE:CHWY opened at $34.01 on Monday. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09. The firm has a 50 day moving average of $36.22 and a 200 day moving average of $33.08. The stock has a market capitalization of $13.85 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 2.21 and a beta of 1.23.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 191,096 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.68, for a total transaction of $6,818,305.28. Following the sale, the chief executive officer now directly owns 707,126 shares in the company, valued at approximately $25,230,255.68. The trade was a 21.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,655,172 shares of company stock worth $310,353,221. 2.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently modified their holdings of the business. California State Teachers Retirement System grew its stake in Chewy by 16.5% during the 4th quarter. California State Teachers Retirement System now owns 155,785 shares of the company’s stock worth $5,217,000 after purchasing an additional 22,033 shares in the last quarter. Centaurus Financial Inc. acquired a new position in shares of Chewy during the fourth quarter worth about $154,000. Integrated Advisors Network LLC purchased a new stake in shares of Chewy during the fourth quarter worth approximately $235,000. Polar Asset Management Partners Inc. lifted its stake in Chewy by 26.5% in the fourth quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock worth $9,670,000 after acquiring an additional 60,533 shares during the last quarter. Finally, Mackenzie Financial Corp acquired a new position in shares of Chewy during the fourth quarter worth $318,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.