Chewy (NYSE:CHWY) Given “Buy” Rating at Guggenheim

Guggenheim reaffirmed their buy rating on shares of Chewy (NYSE:CHWY) in a research report sent to investors on Monday,Benzinga reports. They currently have a $45.00 price target on the stock.

Several other brokerages have also recently commented on CHWY. Citizens Jmp decreased their price objective on shares of Chewy from $48.00 to $45.00 and set a “market outperform” rating for the company in a research note on Thursday, March 26th. Wedbush decreased their price objective on shares of Chewy from $42.00 to $36.00 and set an “outperform” rating for the company in a research note on Thursday, March 26th. Argus upgraded shares of Chewy to a “strong-buy” rating in a research note on Tuesday, April 7th. TD Cowen lifted their price objective on shares of Chewy from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday, March 26th. Finally, UBS Group decreased their price objective on shares of Chewy from $42.00 to $32.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Chewy has an average rating of “Moderate Buy” and an average price target of $42.91.

Chewy Trading Up 0.5%

NYSE:CHWY opened at $25.35 on Monday. The company has a market cap of $10.56 billion, a PE ratio of 48.74, a P/E/G ratio of 1.09 and a beta of 1.61. Chewy has a twelve month low of $22.74 and a twelve month high of $48.62. The company’s 50 day moving average is $25.82 and its two-hundred day moving average is $31.24.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.19). The company had revenue of $3.26 billion for the quarter, compared to analysts’ expectations of $3.26 billion. Chewy had a return on equity of 53.48% and a net margin of 1.77%.The firm’s revenue for the quarter was up .5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.28 EPS. As a group, analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Activity at Chewy

In other news, General Counsel Da-Wai Hu sold 8,149 shares of Chewy stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $26.91, for a total transaction of $219,289.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Satish Mehta sold 13,013 shares of Chewy stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $28.99, for a total transaction of $377,246.87. Following the transaction, the chief technology officer directly owned 273,835 shares of the company’s stock, valued at approximately $7,938,476.65. This trade represents a 4.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently made changes to their positions in CHWY. Quent Capital LLC purchased a new position in shares of Chewy during the 3rd quarter valued at approximately $27,000. CoreCap Advisors LLC increased its holdings in shares of Chewy by 306.3% during the 4th quarter. CoreCap Advisors LLC now owns 845 shares of the company’s stock valued at $28,000 after purchasing an additional 637 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Chewy by 81.4% during the 4th quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock valued at $30,000 after purchasing an additional 407 shares in the last quarter. Osterweis Capital Management Inc. purchased a new position in shares of Chewy during the 2nd quarter valued at approximately $30,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Chewy during the 4th quarter valued at approximately $31,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.