Chewy (NYSE:CHWY) Given "Outperform" Rating at Royal Bank of Canada

Royal Bank of Canada restated their outperform rating on shares of Chewy (NYSE:CHWY - Free Report) in a report published on Thursday morning,Benzinga reports. Royal Bank of Canada currently has a $42.00 price objective on the stock.

CHWY has been the subject of a number of other research reports. The Goldman Sachs Group increased their price objective on shares of Chewy from $40.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday. Guggenheim set a $42.00 price target on Chewy and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Wolfe Research raised Chewy from a "peer perform" rating to an "outperform" rating in a research note on Friday, January 3rd. BNP Paribas downgraded Chewy from an "outperform" rating to a "neutral" rating in a research report on Thursday, December 5th. Finally, JMP Securities reissued a "market outperform" rating and set a $37.00 price target on shares of Chewy in a research report on Monday, December 16th. Six investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $38.68.

Chewy Trading Up 0.2 %

CHWY stock traded up $0.06 during midday trading on Thursday, hitting $32.23. 1,975,702 shares of the company's stock were exchanged, compared to its average volume of 5,286,169. Chewy has a 1-year low of $14.69 and a 1-year high of $40.09. The stock has a market capitalization of $13.12 billion, a PE ratio of 35.41, a P/E/G ratio of 2.21 and a beta of 1.23. The business has a 50-day simple moving average of $35.90 and a two-hundred day simple moving average of $33.23.

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Chewy (NYSE:CHWY - Get Free Report) last issued its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same period last year, the company earned $0.07 EPS. The company's quarterly revenue was up 15.0% on a year-over-year basis. As a group, research analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO David Reeder sold 307,558 shares of Chewy stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the sale, the chief financial officer now owns 546,257 shares of the company's stock, valued at $20,473,712.36. The trade was a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Satish Mehta sold 71,365 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 8,083,269 shares of company stock worth $290,611,129 in the last quarter. 2.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Banque Transatlantique SA purchased a new stake in shares of Chewy during the 4th quarter worth $30,000. Fifth Third Bancorp boosted its holdings in Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company's stock worth $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. grew its position in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company's stock worth $58,000 after buying an additional 320 shares during the period. Allworth Financial LP lifted its position in shares of Chewy by 52.0% during the 4th quarter. Allworth Financial LP now owns 1,900 shares of the company's stock valued at $71,000 after acquiring an additional 650 shares during the period. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Chewy during the 4th quarter worth approximately $67,000. Institutional investors and hedge funds 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.