Chewy (NYSE:CHWY) Rating Increased to Outperform at Mizuho

Chewy (NYSE:CHWY) was upgraded by equities research analysts at Mizuho from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a $42.00 target price on the stock, up from their previous target price of $24.00. Mizuho’s price target indicates a potential upside of 16.80% from the company’s previous close.

CHWY has been the topic of several other research reports. Robert W. Baird boosted their price objective 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. JPMorgan Chase & Co. increased their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Barclays raised their price objective on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Morgan Stanley upped their target price on Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a research report on Monday, December 16th. Seven analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.70.

Chewy Stock Up 6.2 %

Shares of CHWY opened at $35.96 on Monday. The stock has a market cap of $14.64 billion, a PE ratio of 39.52, a PEG ratio of 4.28 and a beta of 1.10. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The business has a 50-day simple moving average of $32.34 and a two-hundred day simple moving average of $28.98.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the firm posted ($0.08) earnings per share. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 571,903 shares of Chewy stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the sale, the chief executive officer now owns 898,222 shares in the company, valued at $31,006,623.44. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,799,523 shares of company stock worth $682,554,313. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of large investors have recently added to or reduced their stakes in the stock. BC Partners Advisors L.P. bought a new position in shares of Chewy during the 2nd quarter worth $7,517,800,000. FMR LLC boosted its position in Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock worth $117,023,000 after purchasing an additional 2,497,689 shares during the period. Marshall Wace LLP raised its position in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the period. ArrowMark Colorado Holdings LLC lifted its stake in shares of Chewy by 5.3% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after buying an additional 138,768 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Chewy by 8.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company’s stock worth $68,693,000 after buying an additional 200,900 shares during the period. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.