Chewy (NYSE:CHWY) Downgraded to Hold at Argus

Argus downgraded shares of Chewy (NYSE:CHWY) from a buy rating to a hold rating in a report issued on Tuesday, Marketbeat reports.

Other analysts also recently issued reports about the company. Royal Bank of Canada decreased their price target on Chewy from $35.00 to $22.00 and set an outperform rating for the company in a research report on Friday, March 22nd. JPMorgan Chase & Co. increased their price objective on Chewy from $22.00 to $28.00 and gave the company an overweight rating in a report on Thursday, May 30th. Bank of America reduced their price objective on Chewy from $17.00 to $16.50 and set an underperform rating for the company in a report on Thursday, March 21st. Piper Sandler increased their price objective on Chewy from $16.00 to $22.00 and gave the company a neutral rating in a report on Thursday, May 30th. Finally, Needham & Company LLC increased their price objective on Chewy from $25.00 to $30.00 and gave the company a buy rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $26.50.

Chewy Trading Up 0.1 %

Shares of CHWY opened at $26.50 on Tuesday. The company has a market capitalization of $11.53 billion, a price-to-earnings ratio of 147.22, a PEG ratio of 3.80 and a beta of 1.03. The stock has a 50 day moving average of $21.76 and a 200 day moving average of $19.18. Chewy has a 12 month low of $14.69 and a 12 month high of $39.46.

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

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CTO Satish Mehta sold 8,019 shares of the stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $121,247.28. Following the transaction, the chief technology officer now owns 569,594 shares of the company’s stock, valued at $8,612,261.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $30.32, for a total value of $40,576,103.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,942,371 shares of company stock valued at $541,393,732. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its stake in shares of Chewy by 7.2% during the first quarter. Baillie Gifford & Co. now owns 19,819,195 shares of the company’s stock valued at $315,323,000 after buying an additional 1,336,431 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Chewy by 9.1% during the first quarter. Vanguard Group Inc. now owns 10,480,230 shares of the company’s stock valued at $166,740,000 after buying an additional 875,532 shares during the last quarter. Massachusetts Financial Services Co. MA bought a new position in shares of Chewy during the fourth quarter valued at about $42,223,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Chewy by 127.8% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 1,717,660 shares of the company’s stock valued at $27,328,000 after buying an additional 963,540 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Chewy by 8.8% during the fourth quarter. Wells Fargo & Company MN now owns 915,965 shares of the company’s stock valued at $21,644,000 after buying an additional 73,825 shares during the last quarter. Institutional investors 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.