Chewy (NYSE:CHWY) Upgraded by Argus to Buy Rating

Chewy (NYSE:CHWY) was upgraded by investment analysts at Argus from a “hold” rating to a “buy” rating in a report released on Thursday, MarketBeat reports.

CHWY has been the topic of several other reports. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft boosted their price target on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Bank of America raised Chewy from an “underperform” rating to a “buy” rating and boosted their price target for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. TD Cowen started coverage on Chewy in a research note on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Citigroup raised Chewy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Chewy currently has a consensus rating of “Moderate Buy” and an average price target of $36.80.

Chewy Price Performance

Chewy stock opened at $39.25 on Thursday. The stock’s 50 day moving average is $34.33 and its 200 day moving average is $29.95. The firm has a market cap of $15.98 billion, a P/E ratio of 43.13, a P/E/G ratio of 4.16 and a beta of 1.10. Chewy has a one year low of $14.69 and a one year high of $39.60.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.86 billion. During the same period in the previous year, the firm earned ($0.08) earnings per share. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. Equities analysts anticipate that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling at Chewy

In other Chewy news, CEO Sumit Singh sold 71,161 shares of the company’s stock in a transaction on Thursday, December 19th. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50. Following the completion of the transaction, the chief executive officer now owns 77,838 shares in the company, valued at $2,529,735. This represents a 47.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 168,105 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $36.32, for a total value of $6,105,573.60. Following the completion of the transaction, the chief technology officer now owns 417,857 shares of the company’s stock, valued at $15,176,566.24. This trade represents a 28.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,103,513 shares of company stock worth $916,453,941 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in shares of Chewy by 1.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after buying an additional 301 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after buying an additional 320 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Chewy by 0.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after buying an additional 923 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Chewy by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after buying an additional 1,029 shares during the last quarter. Hedge funds and other institutional investors 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.