Argus Upgrades Chewy (NYSE:CHWY) to “Buy”

Argus upgraded shares of Chewy (NYSE:CHWYFree Report) from a hold rating to a buy rating in a research report report published on Thursday morning, Marketbeat.com reports.

Several other brokerages also recently commented on CHWY. BNP Paribas downgraded shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Mizuho upgraded Chewy from a “neutral” rating to an “outperform” rating and increased their target price for the company from $24.00 to $42.00 in a research note on Monday, January 6th. Wedbush restated an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Wolfe Research raised Chewy from a “peer perform” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, TD Cowen initiated coverage on Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus price target of $36.80.

Check Out Our Latest Stock Analysis on CHWY

Chewy Trading Up 3.3 %

Shares of Chewy stock opened at $39.25 on Thursday. The company’s fifty day simple moving average is $34.48 and its two-hundred day simple moving average is $30.05. Chewy has a 12-month low of $14.69 and a 12-month high of $39.60. The company has a market cap of $15.98 billion, a P/E ratio of 43.13, a PEG ratio of 4.16 and a beta of 1.10.

Chewy (NYSE:CHWYGet Free Report) last posted its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share 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 firm had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter in the prior year, the business earned ($0.08) EPS. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. Analysts predict that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $31.32, for a total transaction of $620,989,219.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Sumit Singh sold 571,903 shares of the company’s stock in a transaction that occurred 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 directly owns 898,222 shares in the company, valued at $31,006,623.44. This trade represents a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,103,513 shares of company stock worth $916,453,941. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp raised 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 in the last quarter. Blue Trust Inc. increased its stake in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares during the last quarter. Planning Capital Management Corp purchased a new stake in Chewy during the third quarter valued at approximately $52,000. Future Financial Wealth Managment LLC bought a new stake in shares of Chewy in the 3rd quarter valued at approximately $62,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in shares of Chewy in the 3rd quarter worth approximately $63,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

About Chewy

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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.

Further Reading

Analyst Recommendations for Chewy (NYSE:CHWY)

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