Chewy (NYSE:CHWY) Shares Gap Up Following Analyst Upgrade

Chewy, Inc. (NYSE:CHWY)’s share price gapped up prior to trading on Monday after Guggenheim raised their price target on the stock from $25.00 to $32.00. The stock had previously closed at $27.24, but opened at $29.77. Guggenheim currently has a buy rating on the stock. Chewy shares last traded at $28.47, with a volume of 17,576,321 shares.

Other analysts also recently issued reports about the stock. Morgan Stanley increased their price target on shares of Chewy from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Thursday, May 30th. The Goldman Sachs Group decreased their target price on Chewy from $36.00 to $32.00 and set a “buy” rating on the stock in a research report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft raised their price objective on Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Royal Bank of Canada lowered their price objective on Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. Finally, Jefferies Financial Group cut their target price on Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.50.

Insider Activity at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $30.32, for a total transaction of $40,576,103.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder Argos Holdings Gp Llc sold 1,338,262 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $30.32, for a total transaction of $40,576,103.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Sumit Singh sold 46,090 shares of Chewy stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the sale, the chief executive officer now owns 1,379,100 shares of the company’s stock, valued at $20,851,992. The disclosure for this sale can be found here. Insiders sold 18,942,371 shares of company stock valued at $541,393,732 over the last ninety days. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the business. Headinvest LLC acquired a new position in shares of Chewy during the 3rd quarter worth about $39,000. Quest Partners LLC acquired a new stake in Chewy in the fourth quarter worth $65,000. Future Financial Wealth Managment LLC bought a new position in shares of Chewy during the first quarter worth $65,000. EntryPoint Capital LLC grew its holdings in shares of Chewy by 18.0% in the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after buying an additional 619 shares during the period. Finally, Signaturefd LLC increased its position in shares of Chewy by 37.8% in the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after buying an additional 922 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Trading Down 2.2 %

The firm has a market cap of $10.82 billion, a price-to-earnings ratio of 138.17, a P/E/G ratio of 4.14 and a beta of 1.03. The company has a 50 day moving average of $20.02 and a 200 day moving average of $19.01.

Chewy (NYSE:CHWY) last posted its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Chewy had a return on equity of 16.62% and a net margin of 0.73%. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Equities analysts forecast that Chewy, Inc. will post 0.22 EPS for the current fiscal year.

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.