TD Cowen Initiates Coverage on Chewy (NYSE:CHWY)

TD Cowen assumed coverage on shares of Chewy (NYSE:CHWY) in a report released on Wednesday, MarketBeat Ratings reports. The firm issued a buy rating and a $38.00 price objective on the stock.

A number of other equities research analysts have also commented on CHWY. Guggenheim upped their price target on Chewy from $25.00 to $32.00 and gave the company a buy rating in a research report on Friday, June 28th. UBS Group upped their price target on Chewy from $21.00 to $30.00 and gave the company a neutral rating in a research report on Thursday, August 29th. Robert W. Baird upped their price target on Chewy from $26.00 to $32.00 and gave the company an outperform rating in a research report on Tuesday, August 20th. Bank of America upped their target price on Chewy from $20.00 to $24.00 and gave the company an underperform rating in a research report on Thursday, August 29th. Finally, JPMorgan Chase & Co. upped their target price on Chewy from $28.00 to $33.00 and gave the company an overweight rating in a research report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Chewy currently has an average rating of Moderate Buy and an average target price of $29.55.

Chewy Stock Down 1.4 %

Shares of CHWY stock opened at $29.10 on Wednesday. The firm has a market capitalization of $12.17 billion, a P/E ratio of 35.49, a P/E/G ratio of 3.04 and a beta of 1.05. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10. The stock’s fifty day simple moving average is $27.90 and its 200 day simple moving average is $23.16.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The firm had revenue of $2.86 billion for the quarter, compared to analyst estimates of $2.86 billion. As a group, equities research analysts expect that Chewy will post 0.32 EPS for the current fiscal year.

Insider Transactions at Chewy

In other news, CTO Satish Mehta sold 2,894 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $64,362.56. Following the completion of the sale, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at $12,753,817.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CTO Satish Mehta sold 2,894 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $22.24, for a total transaction of $64,362.56. Following the completion of the sale, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at approximately $12,753,817.12. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Sumit Singh sold 14,338 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,888,627 shares of company stock valued at $790,397,620 over the last ninety days. 2.10% of the stock is currently owned by insiders.

Institutional Trading of Chewy

A number of institutional investors and hedge funds have recently modified their holdings of CHWY. 1620 Investment Advisors Inc. bought a new position in Chewy during the second quarter valued at $33,000. Industrial Alliance Investment Management Inc. bought a new position in Chewy during the second quarter valued at $44,000. First Horizon Advisors Inc. bought a new position in Chewy during the second quarter valued at $48,000. Skylands Capital LLC bought a new position in Chewy during the second quarter valued at $52,000. Finally, Future Financial Wealth Managment LLC bought a new position in Chewy during the third quarter valued at $62,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.