Chewy (NYSE:CHWY) Upgraded to Outperform at Evercore ISI

Evercore ISI upgraded shares of Chewy (NYSE:CHWY - Free Report) from an in-line rating to an outperform rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. They currently have $47.00 price target on the stock, up from their prior price target of $34.00.

A number of other research firms also recently weighed in on CHWY. Wolfe Research upgraded shares of Chewy from a "peer perform" rating to an "outperform" rating in a research note on Friday, January 3rd. Robert W. Baird increased their price target on Chewy from $35.00 to $40.00 and gave the company an "outperform" rating in a research note on Monday, November 25th. Barclays upped their target price on Chewy from $34.00 to $40.00 and gave the stock an "overweight" rating in a report on Monday, November 18th. Needham & Company LLC restated a "hold" rating on shares of Chewy in a report on Thursday, December 5th. Finally, Citigroup upgraded shares of Chewy from a "neutral" rating to a "buy" rating and raised their price objective for the company from $28.00 to $40.00 in a report on Friday, November 8th. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $36.80.

Chewy Price Performance

NYSE:CHWY traded down $0.53 during mid-day trading on Monday, reaching $35.79. The stock had a trading volume of 6,098,026 shares, compared to its average volume of 7,226,683. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a market capitalization of $14.57 billion, a PE ratio of 39.33, a P/E/G ratio of 4.28 and a beta of 1.10. The stock has a 50-day simple moving average of $33.43 and a two-hundred day simple moving average of $29.34.

Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) 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 company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.86 billion. During the same quarter last year, the company posted ($0.08) EPS. The company's revenue for the quarter was up 5.2% compared to the same quarter last year. Equities analysts expect that Chewy will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Sumit Singh sold 71,161 shares of the business's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the sale, the chief executive officer now directly owns 77,838 shares of the company's stock, valued at approximately $2,529,735. The trade was a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 29,053,806 shares of company stock worth $942,139,713. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Several large investors have recently bought and sold shares of CHWY. BC Partners Advisors L.P. bought a new position in shares of Chewy during the second quarter valued at about $7,517,800,000. Marshall Wace LLP increased its stake 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 buying an additional 2,636,526 shares during the last quarter. FMR LLC lifted its position in shares of Chewy by 166.8% during the 3rd quarter. FMR LLC now owns 3,995,329 shares of the company's stock worth $117,023,000 after buying an additional 2,497,689 shares in the last quarter. Clearbridge Investments LLC purchased a new position in shares of Chewy in the 2nd quarter worth approximately $40,798,000. Finally, Eagle Asset Management Inc. grew its holdings in shares of Chewy by 97.9% in the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company's stock valued at $60,485,000 after acquiring an additional 975,647 shares in the last quarter. 93.09% of the stock is currently owned by institutional investors.

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.