Chewy’s (CHWY) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Chewy (NYSE:CHWY) in a research report sent to investors on Monday,Benzinga reports. They currently have a $37.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on the stock. Robert W. Baird lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a report on Friday, November 22nd. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a research report on Wednesday, August 21st. Barclays raised their price target on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Finally, The Goldman Sachs Group boosted their price objective on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $34.60.

Chewy Price Performance

Shares of NYSE CHWY opened at $33.54 on Monday. The company has a market capitalization of $14.02 billion, a P/E ratio of 36.85, a P/E/G ratio of 4.28 and a beta of 1.12. The company has a 50 day simple moving average of $30.84 and a 200-day simple moving average of $27.90. Chewy has a 1 year low of $14.69 and a 1 year high of $39.10.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.08) earnings per share. As a group, research analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of Chewy stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total transaction of $36,750,000.00. The disclosure for this sale can be found here. Insiders have sold 47,956,046 shares of company stock valued at $1,448,008,845 over the last quarter. 2.10% of the stock is owned by insiders.

Institutional Trading of Chewy

Large investors have recently made changes to their positions in the company. 1620 Investment Advisors Inc. acquired a new position in Chewy in the second quarter valued at $33,000. Blue Trust Inc. lifted its holdings in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the period. Industrial Alliance Investment Management Inc. purchased a new stake in shares of Chewy during the 2nd quarter worth $44,000. First Horizon Advisors Inc. purchased a new stake in shares of Chewy during the 2nd quarter worth $48,000. Finally, Planning Capital Management Corp acquired a new position in shares of Chewy during the 3rd quarter worth $52,000. 93.09% of the stock is owned by institutional investors and hedge funds.

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.