Chewy (NYSE:CHWY) Shares Gap Up After Analyst Upgrade

Chewy, Inc. (NYSE:CHWY)’s stock price gapped up before the market opened on Monday after Guggenheim raised their price target on the stock from $25.00 to $32.00. The stock had previously closed at $27.24, but opened at $29.77. Guggenheim currently has a buy rating on the stock. Chewy shares last traded at $28.47, with a volume of 17,576,321 shares traded.

A number of other research firms also recently commented on CHWY. Jefferies Financial Group dropped their price target on shares of Chewy from $27.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Morgan Stanley boosted their price target on shares of Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Bank of America dropped their target price on shares of Chewy from $17.00 to $16.50 and set an “underperform” rating on the stock in a report on Thursday, March 21st. Royal Bank of Canada dropped their target price on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a report on Friday, March 22nd. Finally, Citigroup dropped their target price on shares of Chewy from $18.00 to $16.00 and set a “neutral” rating on the stock in a report on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.50.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now directly owns 1,379,100 shares in the company, valued at $20,851,992. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the transaction, the chief executive officer now directly owns 1,379,100 shares in the company, valued at $20,851,992. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,604,109 shares of company stock worth $500,817,628. 2.10% of the stock is currently owned by company insiders.

Institutional Trading of Chewy

A number of large investors have recently added to or reduced their stakes in CHWY. Allspring Global Investments Holdings LLC increased its stake in shares of Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after purchasing an additional 543 shares in the last quarter. EntryPoint Capital LLC grew its stake in Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after acquiring an additional 619 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Chewy by 3.2% during the first quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after acquiring an additional 870 shares in the last quarter. Signaturefd LLC lifted its position in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares during the last quarter. Finally, Liberty One Investment Management LLC lifted its position in Chewy by 23.7% during the fourth quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock valued at $153,000 after purchasing an additional 1,241 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Stock Down 6.6 %

The firm has a market capitalization of $11.06 billion, a P/E ratio of 141.31, a price-to-earnings-growth ratio of 4.14 and a beta of 1.00. The firm’s 50-day simple moving average is $19.83 and its 200-day simple moving average is $18.98.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. As a group, analysts expect that Chewy, Inc. will post 0.22 EPS for the current fiscal year.

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.