Chewy’s (CHWY) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Chewy (NYSE:CHWY) in a research note released on Monday,Benzinga reports. They currently have a $37.00 price target on the stock.

A number of other analysts have also recently commented on the company. Evercore ISI lifted their target price on Chewy from $22.00 to $29.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 28th. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. Piper Sandler raised their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Morgan Stanley lifted their target price on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Finally, Raymond James cut shares of Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Chewy Stock Performance

Shares of NYSE CHWY opened at $31.86 on Monday. The stock’s 50-day simple moving average is $30.95 and its 200-day simple moving average is $28.02. The firm has a market capitalization of $13.01 billion, a PE ratio of 35.01, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last issued its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.08) EPS. On average, sell-side analysts forecast that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total transaction of $789,999,991.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the sale, the chief technology officer now directly owns 585,962 shares in the company, valued at $19,612,148.14. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,956,046 shares of company stock valued at $1,448,008,845. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. raised its position in shares of Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Washington Trust Advisors Inc. lifted its position in shares of Chewy by 0.3% in the third quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after acquiring an additional 923 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its position in shares of Chewy by 10.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock valued at $308,000 after acquiring an additional 1,029 shares in the last quarter. 1620 Investment Advisors Inc. acquired a new stake in shares of Chewy during the second quarter valued at $33,000. Finally, D.A. Davidson & CO. increased its position in Chewy by 5.0% during the 3rd quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after purchasing an additional 1,244 shares in the last quarter. Hedge funds and other 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.