Wedbush Reaffirms Outperform Rating for Chewy (NYSE:CHWY)

Wedbush reaffirmed their outperform rating on shares of Chewy (NYSE:CHWY) in a research note published on Thursday, Marketbeat reports. They currently have a $39.00 price target on the stock.

CHWY has been the topic of several other reports. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and issued a $37.00 price target on shares of Chewy in a research note on Monday, December 16th. UBS Group increased their price objective on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Guggenheim set a $42.00 price target on Chewy and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Royal Bank of Canada lifted their price objective on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $38.68.

Chewy Stock Down 1.5 %

NYSE CHWY opened at $32.20 on Thursday. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09. The business’s fifty day simple moving average is $35.90 and its 200-day simple moving average is $33.21. The firm has a market cap of $13.11 billion, a PE ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter in the prior year, the company posted $0.07 EPS. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. Research analysts expect that Chewy will post 0.24 EPS for the current year.

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 71,365 shares of the company’s stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the sale, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. This represents a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now directly owns 546,257 shares in the company, valued at approximately $20,473,712.36. This represents a 36.02 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,083,269 shares of company stock worth $290,611,129. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Banque Transatlantique SA acquired a new stake in shares of Chewy in the 4th quarter worth $30,000. Fifth Third Bancorp lifted its position in Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the period. Blue Trust Inc. boosted its holdings in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after purchasing an additional 320 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Chewy during the 3rd quarter worth approximately $63,000. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in shares of Chewy during the 4th quarter worth approximately $67,000. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.