Chewy’s (CHWY) Market Outperform Rating Reiterated at JMP Securities

Chewy (NYSE:CHWY)‘s stock had its “market outperform” rating reaffirmed by equities researchers at JMP Securities in a report issued on Monday,Benzinga reports. They presently have a $37.00 target price on the stock. JMP Securities’ price objective points to a potential upside of 13.08% from the company’s previous close.

Other equities research analysts have also recently issued research reports about the company. Barclays raised their target price on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research note on Monday, November 18th. Citigroup raised Chewy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. 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 research note on Wednesday, November 20th. Raymond James downgraded Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Finally, BNP Paribas downgraded Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Nine investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Chewy has an average rating of “Moderate Buy” and a consensus target price of $34.60.

Chewy Trading Up 1.4 %

Shares of CHWY stock opened at $32.72 on Monday. The company has a market capitalization of $13.68 billion, a P/E ratio of 35.96, a P/E/G ratio of 4.28 and a beta of 1.12. The business’s 50 day moving average is $30.73 and its two-hundred day moving average is $27.82. Chewy has a 12-month low of $14.69 and a 12-month high of $39.10.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same quarter last year, the business posted ($0.08) earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, research analysts predict that Chewy will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Chewy news, 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 transaction of $789,999,991.20. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Satish Mehta sold 8,056 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following 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 disclosure for this sale can be found here. Insiders have sold a total of 47,956,046 shares of company stock worth $1,448,008,845 in the last quarter. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. BC Partners Advisors L.P. purchased a new position in shares of Chewy in the 2nd quarter worth $7,517,800,000. FMR LLC increased its holdings in 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 in the last quarter. Bank of New York Mellon Corp increased its holdings in Chewy by 7.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,553,104 shares of the company’s stock valued at $96,787,000 after purchasing an additional 258,502 shares in the last quarter. Marshall Wace LLP increased its holdings in 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 in the last quarter. Finally, ArrowMark Colorado Holdings LLC increased its holdings in Chewy by 5.3% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after purchasing an additional 138,768 shares in the last quarter. Hedge funds and other 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.