Chewy (NYSE:CHWY) Given “Market Outperform” Rating at JMP Securities

Chewy (NYSE:CHWY)‘s stock had its “market outperform” rating reissued by JMP Securities in a research note issued to investors on Monday,Benzinga reports. They currently have a $37.00 price objective on the stock. JMP Securities’ target price points to a potential upside of 13.08% from the company’s current price.

A number of other research analysts have also commented on the stock. Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research note on Thursday, December 5th. TD Cowen initiated coverage on shares of Chewy in a research report on Wednesday, October 9th. They issued a “buy” rating and a $38.00 price target on the stock. Robert W. Baird lifted their price target on shares of Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, November 25th. JPMorgan Chase & Co. lifted their price target on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, Citigroup upgraded shares of Chewy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $28.00 to $40.00 in a research report on Friday, November 8th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $34.60.

Chewy Trading Up 1.4 %

CHWY opened at $32.72 on Monday. The business’s 50 day moving average is $30.73 and its 200-day moving average is $27.82. The stock has a market cap of $13.68 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 4.28 and a beta of 1.12. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 5.2% on a year-over-year basis. As a group, analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $33.47, for a total transaction of $269,634.32. Following the transaction, the chief technology officer now directly owns 585,962 shares of the company’s stock, valued at $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,956,046 shares of company stock worth $1,448,008,845 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. BC Partners Advisors L.P. bought a new stake in Chewy during the second quarter worth about $7,517,800,000. Marshall Wace LLP grew its stake in shares of Chewy by 1,028.6% during the second 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. FMR LLC grew its stake in shares of Chewy by 166.8% during the third 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. Fiera Capital Corp bought a new position in Chewy in the second quarter valued at approximately $44,373,000. Finally, Clearbridge Investments LLC bought a new position in Chewy in the second quarter valued at approximately $40,798,000. 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.