Chewy (NYSE:CHWY) Downgraded to Hold at Argus

Chewy (NYSE:CHWY) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, MarketBeat.com reports.

A number of other analysts also recently issued reports on the stock. JMP Securities reiterated a “market outperform” rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. Evercore ISI lifted their price target on shares of Chewy from $19.00 to $22.00 and gave the company an “in-line” rating in a report on Friday, May 31st. JPMorgan Chase & Co. lifted their price target on shares of Chewy from $22.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. The Goldman Sachs Group reduced their price target on shares of Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a report on Thursday, March 21st. Finally, Piper Sandler boosted their target price on shares of Chewy from $16.00 to $22.00 and gave the stock a “neutral” rating in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Chewy Price Performance

Shares of CHWY stock opened at $25.41 on Tuesday. The company has a market capitalization of $11.05 billion, a price-to-earnings ratio of 141.17, a PEG ratio of 3.71 and a beta of 1.03. Chewy has a one year low of $14.69 and a one year high of $39.46. The company’s fifty day moving average price is $21.33 and its 200-day moving average price is $19.12.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. Equities research analysts expect that Chewy will post 0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Chewy news, CTO Satish Mehta sold 8,019 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the sale, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,942,371 shares of company stock valued at $541,393,732. Company insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Large investors have recently modified their holdings of the business. Headinvest LLC bought a new stake in shares of Chewy in the 3rd quarter valued at about $39,000. Quest Partners LLC bought a new stake in shares of Chewy in the 4th quarter valued at about $65,000. Future Financial Wealth Managment LLC bought a new stake in shares of Chewy in the 1st quarter valued at about $65,000. EntryPoint Capital LLC raised its holdings in shares of Chewy by 18.0% in the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after purchasing an additional 619 shares in the last quarter. Finally, Signaturefd LLC raised its holdings in shares of Chewy by 37.8% in the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares in the last quarter. Institutional investors own 93.09% 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 websites and mobile applications.