Chewy (NYSE:CHWY) Given Outperform Rating at Wedbush

Wedbush restated their outperform rating on shares of Chewy (NYSE:CHWY) in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a $31.00 target price on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler cut their target price on Chewy from $41.00 to $29.00 and set a neutral rating on the stock in a research note on Thursday. Needham & Company LLC lowered their price target on shares of Chewy from $55.00 to $45.00 and set a buy rating on the stock in a report on Thursday. Barclays lowered their price target on shares of Chewy from $35.00 to $28.00 and set an equal weight rating on the stock in a report on Wednesday. Oppenheimer lowered their price target on shares of Chewy from $50.00 to $35.00 and set an outperform rating on the stock in a report on Thursday. Finally, UBS Group lowered their price target on shares of Chewy from $26.00 to $25.00 and set a sell rating on the stock in a report on Thursday. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $38.95.

Chewy Stock Down 12.3 %

Shares of NYSE CHWY opened at $23.98 on Thursday. Chewy has a twelve month low of $23.03 and a twelve month high of $52.88. The stock’s 50 day moving average price is $33.24 and its 200-day moving average price is $35.37. The company has a market capitalization of $10.25 billion, a PE ratio of 199.79, a PEG ratio of 201.39 and a beta of 0.85.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, May 31st. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. Chewy had a return on equity of 39.90% and a net margin of 0.51%. The firm had revenue of $2.78 billion for the quarter, compared to the consensus estimate of $2.73 billion.

Insider Transactions at Chewy

In other news, CAO Stacy Bowman sold 15,166 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $33.52, for a total value of $508,364.32. Following the transaction, the chief accounting officer now owns 224,389 shares of the company’s stock, valued at $7,521,519.28. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CAO Stacy Bowman sold 15,166 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $33.52, for a total value of $508,364.32. Following the completion of the transaction, the chief accounting officer now directly owns 224,389 shares in the company, valued at $7,521,519.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Susan Helfrick sold 16,964 shares of the company’s stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $39.72, for a total transaction of $673,810.08. Following the completion of the transaction, the general counsel now 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 quarter, insiders have 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 hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. FMR LLC grew its position in Chewy by 133,340.6% in the first quarter. FMR LLC now owns 1,760,081 shares of the company’s stock worth $65,792,000 after acquiring an additional 1,758,762 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Chewy during the second quarter valued at about $43,662,000. Brown Advisory Inc. boosted its position in Chewy by 16.5% during the first quarter. Brown Advisory Inc. now owns 6,711,811 shares of the company’s stock valued at $250,887,000 after buying an additional 952,703 shares during the period. Wellington Management Group LLP boosted its position in Chewy by 19.0% during the first quarter. Wellington Management Group LLP now owns 5,369,539 shares of the company’s stock valued at $218,969,000 after buying an additional 856,909 shares during the period. Finally, Marshall Wace LLP boosted its position in Chewy by 36.5% during the fourth quarter. Marshall Wace LLP now owns 2,587,868 shares of the company’s stock valued at $95,958,000 after buying an additional 692,631 shares during the period. 98.28% 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 Website www.chewy.com, as well as mobile applications.