Chewy (NYSE:CHWY) Rating Increased to Outperform at Evercore ISI

Evercore ISI upgraded shares of Chewy (NYSE:CHWY) from an in-line rating to an outperform rating in a research note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has $47.00 price target on the stock, up from their previous price target of $34.00.

A number of other equities analysts also recently issued reports on CHWY. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $24.00 to $42.00 in a report on Monday, January 6th. JMP Securities reiterated a “market outperform” rating and issued a $37.00 price objective on shares of Chewy in a report on Monday, December 16th. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. JPMorgan Chase & Co. increased their price objective on Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Royal Bank of Canada increased their target price on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $36.80.

Chewy Stock Down 1.5 %

Shares of Chewy stock opened at $35.79 on Monday. The company has a market cap of $14.57 billion, a PE ratio of 39.33, a P/E/G ratio of 4.28 and a beta of 1.10. The business has a 50 day moving average of $33.43 and a 200 day moving average of $29.34. Chewy has a 52 week low of $14.69 and a 52 week high of $39.10.

Chewy (NYSE:CHWY) last announced 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 during 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 firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.08) earnings per share. On average, research analysts anticipate that Chewy will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $37.62, for a total value of $2,377,094.94. Following the transaction, the chief executive officer now owns 643,939 shares of the company’s stock, valued at $24,224,985.18. This trade represents a 8.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,803,806 shares of company stock valued at $905,389,713. 2.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Commonwealth Equity Services LLC raised its stake in Chewy by 20.3% during the 2nd quarter. Commonwealth Equity Services LLC now owns 48,704 shares of the company’s stock valued at $1,327,000 after purchasing an additional 8,228 shares during the period. Choreo LLC bought a new stake in Chewy during the 2nd quarter valued at approximately $205,000. American Century Companies Inc. raised its stake in Chewy by 46.0% during the 2nd quarter. American Century Companies Inc. now owns 29,111 shares of the company’s stock valued at $793,000 after purchasing an additional 9,166 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in Chewy during the 2nd quarter valued at approximately $380,000. Finally, Envestnet Asset Management Inc. raised its stake in Chewy by 243.6% during the 2nd quarter. Envestnet Asset Management Inc. now owns 165,662 shares of the company’s stock valued at $4,513,000 after purchasing an additional 117,454 shares during the period. 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.