Chewy (NYSE:CHWY) Upgraded to Buy by Argus

Chewy (NYSE:CHWY) was upgraded by equities research analysts at Argus from a “hold” rating to a “buy” rating in a research report issued on Wednesday, FlyOnTheWall reports.

Other analysts also recently issued research reports about the company. Royal Bank of Canada decreased their target price on Chewy from $56.00 to $44.00 and set an “outperform” rating for the company in a research note on Thursday, August 31st. Robert W. Baird reduced their price objective on Chewy from $50.00 to $40.00 and set an “outperform” rating for the company in a research report on Thursday, August 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Chewy from $35.00 to $37.00 in a research report on Thursday, June 1st. Morgan Stanley reduced their price target on shares of Chewy from $32.00 to $31.00 and set an “equal weight” rating for the company in a report on Thursday, August 31st. Finally, TheStreet downgraded shares of Chewy from a “c-” rating to a “d+” rating in a report on Wednesday, August 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.45.

Chewy Price Performance

Chewy stock opened at $24.41 on Wednesday. The firm has a market cap of $10.43 billion, a price-to-earnings ratio of 221.93, a P/E/G ratio of 190.35 and a beta of 0.91. The firm has a fifty day moving average price of $32.40 and a two-hundred day moving average price of $34.73. Chewy has a fifty-two week low of $23.03 and a fifty-two week high of $52.88.

Insider Buying and Selling at Chewy

In related news, CAO Stacy Bowman sold 14,720 shares of the stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $38.76, for a total transaction of $570,547.20. Following the completion of the sale, the chief accounting officer now owns 254,275 shares in the company, valued at approximately $9,855,699. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CAO Stacy Bowman sold 14,720 shares of the stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $38.76, for a total transaction of $570,547.20. Following the sale, the chief accounting officer now owns 254,275 shares in the company, valued at $9,855,699. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Susan Helfrick sold 16,964 shares of Chewy stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $39.72, for a total value of $673,810.08. Following the completion of the transaction, the general counsel now directly owns 72,656 shares of the company’s stock, valued at $2,885,896.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 304,798 shares of company stock valued at $12,007,357. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CHWY. Teachers Retirement System of The State of Kentucky increased its stake in shares of Chewy by 15.7% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 599,177 shares of the company’s stock valued at $23,649,000 after buying an additional 81,346 shares during the period. Alliancebernstein L.P. increased its position in Chewy by 55.0% in the second quarter. Alliancebernstein L.P. now owns 162,129 shares of the company’s stock worth $6,399,000 after purchasing an additional 57,503 shares during the period. Wells Fargo & Company MN raised its holdings in Chewy by 3.4% during the 2nd quarter. Wells Fargo & Company MN now owns 663,365 shares of the company’s stock worth $26,183,000 after purchasing an additional 21,823 shares during the last quarter. Natixis Advisors L.P. lifted its position in Chewy by 7.6% during the 2nd quarter. Natixis Advisors L.P. now owns 33,731 shares of the company’s stock valued at $1,331,000 after purchasing an additional 2,371 shares during the period. Finally, XTX Topco Ltd bought a new position in shares of Chewy in the 2nd quarter valued at about $332,000. Institutional investors own 98.28% 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 Website www.chewy.com, as well as mobile applications.