Wedbush Reaffirms “Outperform” Rating for Chewy (NYSE:CHWY)

Wedbush reissued their outperform rating on shares of Chewy (NYSE:CHWY) in a report released on Friday, Benzinga reports. Wedbush currently has a $25.00 target price on the stock.

CHWY has been the topic of several other research reports. Mizuho initiated coverage on shares of Chewy in a research note on Tuesday, March 19th. They set a neutral rating and a $18.00 target price on the stock. JMP Securities reaffirmed a market outperform rating and issued a $28.00 price objective on shares of Chewy in a research note on Friday, March 15th. Piper Sandler lowered their price objective on shares of Chewy from $19.00 to $16.00 and set a neutral rating on the stock in a research note on Tuesday, April 23rd. Jefferies Financial Group lowered their price objective on shares of Chewy from $27.00 to $25.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Finally, Bank of America lowered their price objective on shares of Chewy from $17.00 to $16.50 and set an underperform rating on the stock in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $26.60.

Chewy Stock Up 1.9 %

Shares of NYSE:CHWY opened at $16.57 on Friday. The company has a market cap of $7.21 billion, a PE ratio of 207.15, a P/E/G ratio of 8.44 and a beta of 0.91. The company’s 50-day moving average price is $16.23 and its 200 day moving average price is $18.25. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.78.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 20th. The company reported $0.04 EPS for the quarter, beating the consensus estimate of ($0.05) by $0.09. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Chewy had a net margin of 0.33% and a return on equity of 11.69%. As a group, equities analysts anticipate that Chewy will post 0.08 EPS for the current year.

Insider Buying and Selling

In related news, CEO Sumit Singh sold 6,728 shares of the firm’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares in the company, valued at $2,018,760.23. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Chewy news, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the sale, the chief accounting officer now directly owns 243,769 shares in the company, valued at $3,785,732.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 6,728 shares of Chewy stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $15.53, for a total transaction of $104,485.84. Following the completion of the sale, the chief executive officer now owns 129,991 shares of the company’s stock, valued at $2,018,760.23. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,993 shares of company stock worth $1,067,363. 2.10% of the stock is owned by company insiders.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently modified their holdings of the company. Headinvest LLC acquired a new stake in shares of Chewy in the third quarter worth $39,000. Quest Partners LLC bought a new position in Chewy during the fourth quarter worth $65,000. Future Financial Wealth Managment LLC bought a new position in Chewy during the first quarter worth $65,000. EntryPoint Capital LLC increased its position in Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after acquiring an additional 619 shares during the period. Finally, Signaturefd LLC increased its position in Chewy by 37.8% during the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after acquiring an additional 922 shares during the period. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.