Chewy (NYSE:CHWY) Rating Increased to Buy at Argus

Argus upgraded shares of Chewy (NYSE:CHWY - Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning, MarketBeat Ratings reports.

A number of other equities research analysts have also recently commented on the stock. Bank of America upgraded shares of Chewy from an "underperform" rating to a "buy" rating and raised their price target for the stock from $24.00 to $40.00 in a report on Wednesday, November 20th. Morgan Stanley raised their target price on Chewy from $38.00 to $40.00 and gave the company an "overweight" rating in a research note on Monday, January 13th. JMP Securities reiterated a "market outperform" rating and issued a $37.00 price target on shares of Chewy in a report on Monday, December 16th. JPMorgan Chase & Co. boosted their price objective on Chewy from $37.00 to $38.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Finally, UBS Group increased their target price on Chewy from $30.00 to $34.00 and gave the stock a "neutral" rating in a report on Tuesday, December 3rd. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Chewy currently has an average rating of "Moderate Buy" and a consensus target price of $36.80.

Chewy Trading Up 2.1 %

CHWY stock traded up $0.79 during trading on Thursday, hitting $37.99. The company had a trading volume of 3,146,864 shares, compared to its average volume of 5,681,377. Chewy has a one year low of $14.69 and a one year high of $39.10. The business has a 50-day moving average of $34.22 and a 200-day moving average of $29.89. The stock has a market cap of $15.47 billion, a PE ratio of 41.65, a PEG ratio of 4.16 and a beta of 1.10.

Chewy (NYSE:CHWY - Get Free Report) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.08) EPS. Research analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 71,161 shares of the firm's stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now owns 77,838 shares in the company, valued at $2,529,735. This trade represents a 47.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Satish Mehta sold 168,105 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $36.32, for a total value of $6,105,573.60. Following the completion of the transaction, the chief technology officer now owns 417,857 shares in the company, valued at approximately $15,176,566.24. The trade was a 28.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,090,041 shares of company stock worth $915,948,068 in the last quarter. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the company. Legacy Trust boosted its holdings in shares of Chewy by 9.9% in the fourth quarter. Legacy Trust now owns 128,023 shares of the company's stock worth $4,287,000 after acquiring an additional 11,495 shares during the period. Hantz Financial Services Inc. boosted its stake in Chewy by 14.4% in the 4th quarter. Hantz Financial Services Inc. now owns 14,515 shares of the company's stock worth $486,000 after purchasing an additional 1,824 shares during the period. Pacer Advisors Inc. bought a new stake in shares of Chewy during the fourth quarter valued at about $716,000. KBC Group NV increased its position in shares of Chewy by 86.9% during the fourth quarter. KBC Group NV now owns 7,471 shares of the company's stock valued at $250,000 after buying an additional 3,474 shares during the period. Finally, Union Bancaire Privee UBP SA purchased a new stake in shares of Chewy in the fourth quarter worth about $86,000. 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.