Chewy’s (CHWY) Buy Rating Reaffirmed at Guggenheim

Guggenheim reiterated their buy rating on shares of Chewy (NYSE:CHWY) in a research report report published on Monday,Benzinga reports. The brokerage currently has a $45.00 price target on the stock.

Several other research analysts have also issued reports on the company. TD Cowen upped their target price on Chewy from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chewy in a research report on Monday, April 20th. Morgan Stanley reduced their target price on Chewy from $50.00 to $49.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 31st. Citigroup dropped their price target on Chewy from $42.00 to $40.00 and set a “buy” rating on the stock in a research note on Friday, March 27th. Finally, Royal Bank Of Canada boosted their price target on Chewy from $43.00 to $47.00 and gave the company an “outperform” rating in a research note on Monday, March 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $42.91.

Chewy Price Performance

Shares of NYSE:CHWY opened at $25.27 on Monday. The business’s 50-day moving average is $25.93 and its 200 day moving average is $30.39. Chewy has a 1 year low of $22.74 and a 1 year high of $48.62. The firm has a market capitalization of $10.53 billion, a P/E ratio of 48.59, a P/E/G ratio of 1.13 and a beta of 1.61.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, March 25th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.19). Chewy had a net margin of 1.77% and a return on equity of 53.48%. The business had revenue of $3.26 billion for the quarter, compared to analyst estimates of $3.26 billion. During the same period in the prior year, the company earned $0.28 earnings per share. The company’s quarterly revenue was up .5% on a year-over-year basis. On average, analysts expect that Chewy will post 0.89 EPS for the current year.

Insider Activity

In other Chewy news, General Counsel Da-Wai Hu sold 8,149 shares of the business’s stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 13,013 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $28.99, for a total value of $377,246.87. Following the sale, the chief technology officer owned 273,835 shares in the company, valued at approximately $7,938,476.65. The trade was a 4.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Chewy

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Chewy by 5.4% in the fourth quarter. Vanguard Group Inc. now owns 19,920,347 shares of the company’s stock worth $658,367,000 after buying an additional 1,017,214 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Chewy by 295.9% in the third quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after buying an additional 13,171,325 shares during the last quarter. Viking Global Investors LP boosted its stake in shares of Chewy by 146.9% in the fourth quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock worth $447,386,000 after buying an additional 8,052,955 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Chewy by 10.0% in the fourth quarter. AQR Capital Management LLC now owns 11,218,840 shares of the company’s stock worth $370,558,000 after buying an additional 1,022,694 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Chewy by 33.8% in the fourth quarter. Morgan Stanley now owns 7,660,258 shares of the company’s stock worth $253,172,000 after buying an additional 1,937,014 shares during the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

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.