Chewy (NYSE:CHWY) Stock Rating Lowered by Raymond James

Chewy (NYSE:CHWY) was downgraded by equities researchers at Raymond James from an “outperform” rating to a “market perform” rating in a report released on Wednesday, MarketBeat Ratings reports.

CHWY has been the topic of several other research reports. Morgan Stanley upped their target price on Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. Guggenheim upped their price objective on Chewy from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Bank of America raised their target price on shares of Chewy from $18.50 to $20.00 and gave the company an “underperform” rating in a research note on Friday, August 16th. Wolfe Research began coverage on shares of Chewy in a research report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Finally, Citigroup lifted their price objective on shares of Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a research report on Friday, July 19th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Chewy currently has an average rating of “Hold” and a consensus target price of $26.86.

Chewy Stock Performance

NYSE:CHWY opened at $26.33 on Wednesday. The stock has a 50-day simple moving average of $25.36 and a 200 day simple moving average of $20.12. Chewy has a 52-week low of $14.69 and a 52-week high of $39.10. The company has a market cap of $11.45 billion, a PE ratio of 146.28, a PEG ratio of 3.48 and a beta of 1.03.

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

Insider Buying and Selling

In other Chewy news, CEO Sumit Singh sold 14,338 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at $31,097,547.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Sumit Singh sold 14,338 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares in the company, valued at approximately $31,097,547.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of Chewy stock in a transaction that occurred on 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 90 days, insiders have sold 18,906,141 shares of company stock worth $540,973,233. Corporate insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Chewy by 15.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares during the last quarter. EntryPoint Capital LLC increased its stake in shares of Chewy by 18.0% in the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Chewy by 3.2% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after buying an additional 870 shares during the last quarter. Signaturefd LLC boosted its position in Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after buying an additional 922 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its holdings in Chewy by 10.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after acquiring an additional 1,029 shares during the last quarter. Institutional investors and hedge funds 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.