Chewy (NYSE:CHWY) Upgraded by Seaport Res Ptn to Hold Rating

Seaport Res Ptn upgraded shares of Chewy (NYSE:CHWY) to a hold rating in a research note released on Monday,Zacks.com reports.

A number of other analysts also recently commented on CHWY. Guggenheim set a $42.00 price target on Chewy and gave the company a “buy” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. boosted their price target on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Piper Sandler raised their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, December 5th. Six research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $37.95.

Chewy Stock Performance

Shares of CHWY stock opened at $34.01 on Monday. The company has a market capitalization of $13.85 billion, a price-to-earnings ratio of 37.37, a PEG ratio of 2.21 and a beta of 1.23. Chewy has a 52-week low of $14.69 and a 52-week high of $40.09. The company has a 50-day simple moving average of $36.22 and a two-hundred day simple moving average of $33.08.

Insider Activity

In other news, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $37.48, for a total value of $11,527,273.84. Following the transaction, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,655,172 shares of company stock worth $310,353,221 in the last three months. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Institutional investors have recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Chewy in the 4th quarter worth approximately $30,000. Fifth Third Bancorp increased its stake in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares in the last quarter. Blue Trust Inc. raised its holdings in Chewy by 22.9% in the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after acquiring an additional 320 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Chewy by 52.0% during the fourth quarter. Allworth Financial LP now owns 1,900 shares of the company’s stock valued at $71,000 after purchasing an additional 650 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Chewy during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

About Chewy

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.