Chewy (NYSE:CHWY) Given “Overweight” Rating at Piper Sandler

Piper Sandler reiterated their overweight rating on shares of Chewy (NYSE:CHWY) in a report published on Friday, Benzinga reports. Piper Sandler currently has a $35.00 price target on the stock.

CHWY has been the subject of a number of other reports. Needham & Company LLC upped their price target on shares of Chewy from $25.00 to $30.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Barclays lifted their price target on Chewy from $32.00 to $34.00 and gave the company an overweight rating in a research report on Thursday, August 29th. Mizuho upped their price objective on Chewy from $18.00 to $20.00 and gave the company a neutral rating in a report on Monday, June 10th. Deutsche Bank Aktiengesellschaft lifted their target price on Chewy from $18.00 to $20.00 and gave the stock a hold rating in a report on Thursday, May 30th. Finally, UBS Group boosted their price target on shares of Chewy from $21.00 to $30.00 and gave the stock a neutral rating in a research report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Chewy currently has a consensus rating of Moderate Buy and a consensus target price of $29.11.

Chewy Trading Up 0.4 %

Shares of NYSE CHWY opened at $29.87 on Friday. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10. The company has a market cap of $12.99 billion, a PE ratio of 165.94, a P/E/G ratio of 3.02 and a beta of 1.04. The stock has a 50 day simple moving average of $26.67 and a 200-day simple moving average of $21.99.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. Sell-side analysts forecast that Chewy will post 0.32 earnings per share for the current fiscal year.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, 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 this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 45,776,889 shares of company stock valued at $1,330,973,224. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. bought a new stake in shares of Chewy in the 2nd quarter valued at approximately $320,000. Sanctuary Advisors LLC acquired a new stake in Chewy in the second quarter valued at approximately $673,000. Clearbridge Investments LLC bought a new stake in Chewy in the second quarter worth approximately $40,798,000. Cetera Investment Advisers increased its stake in shares of Chewy by 10.9% during the 2nd quarter. Cetera Investment Advisers now owns 91,831 shares of the company’s stock worth $2,501,000 after purchasing an additional 9,039 shares during the last quarter. Finally, Truist Financial Corp raised its holdings in shares of Chewy by 39.3% during the 2nd quarter. Truist Financial Corp now owns 20,732 shares of the company’s stock valued at $565,000 after purchasing an additional 5,847 shares in the last quarter. 93.09% of the stock is owned by institutional investors and hedge funds.

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.