Chewy (NYSE:CHWY) Raised to Outperform at Mizuho

Mizuho upgraded shares of Chewy (NYSE:CHWY) from a neutral rating to an outperform rating in a report released on Monday morning, Marketbeat reports. They currently have $42.00 target price on the stock, up from their previous target price of $24.00.

A number of other equities analysts have also recently weighed in on the stock. Barclays lifted their price target on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. TD Cowen initiated coverage on shares of Chewy in a report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price objective on the stock. The Goldman Sachs Group upped their target price on Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a report on Thursday, December 5th. Robert W. Baird increased their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, November 25th. Finally, Bank of America raised Chewy from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.70.

Chewy Price Performance

CHWY stock opened at $36.19 on Monday. The company has a 50 day moving average price of $32.92 and a 200 day moving average price of $29.18. The stock has a market capitalization of $14.74 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Chewy’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.08) earnings per share. As a group, equities analysts expect that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction that occurred 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 transaction, the chief technology officer now directly owns 585,962 shares in the company, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 63,187 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the transaction, the chief executive officer now directly owns 643,939 shares of the company’s stock, valued at $24,224,985.18. The trade was a 8.94 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 29,053,806 shares of company stock worth $942,139,713 in the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently made changes to their positions in the stock. BC Partners Advisors L.P. acquired a new position in shares of Chewy in the second quarter worth approximately $7,517,800,000. FMR LLC boosted its stake in shares of Chewy by 166.8% in the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after purchasing an additional 2,497,689 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of Chewy by 1,028.6% in the 2nd quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after purchasing an additional 2,636,526 shares during the last quarter. ArrowMark Colorado Holdings LLC increased its position in shares of Chewy by 5.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock worth $81,014,000 after buying an additional 138,768 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Chewy by 8.7% during the second quarter. Renaissance Technologies LLC now owns 2,521,755 shares of the company’s stock worth $68,693,000 after buying an additional 200,900 shares during the last quarter. Institutional investors and hedge funds 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.