Wolfe Research Initiates Coverage on Chewy (NYSE:CHWY)

Stock analysts at Wolfe Research assumed coverage on shares of Chewy (NYSE:CHWY) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm set a “peer perform” rating on the stock.

Several other analysts have also recently weighed in on CHWY. Needham & Company LLC boosted their price target on Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Morgan Stanley boosted their target price on shares of Chewy from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their price target on shares of Chewy from $22.00 to $28.00 and gave the company an “overweight” rating in a research note on Thursday, May 30th. UBS Group boosted their price objective on shares of Chewy from $19.00 to $21.00 and gave the stock a “neutral” rating in a research note on Thursday, May 30th. Finally, Evercore ISI increased their price objective on Chewy from $19.00 to $22.00 and gave the company an “in-line” rating in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $26.50.

Chewy Trading Down 2.7 %

Shares of NYSE CHWY opened at $26.82 on Tuesday. The stock has a 50-day moving average price of $22.44 and a two-hundred day moving average price of $19.21. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The company has a market cap of $11.66 billion, a price-to-earnings ratio of 149.00, a PEG ratio of 4.01 and a beta of 1.03.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.11. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.85 billion. Chewy had a net margin of 0.73% and a return on equity of 16.62%. On average, sell-side analysts predict that Chewy will post 0.23 earnings per share for the current year.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 8,019 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $121,247.28. Following the transaction, the chief technology officer now owns 569,594 shares in the company, valued at $8,612,261.28. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Chewy news, CTO Satish Mehta sold 8,019 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $15.12, for a total transaction of $121,247.28. Following the completion of the sale, the chief technology officer now directly owns 569,594 shares of the company’s stock, valued at approximately $8,612,261.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $696,880.80. Following the completion of the transaction, the chief executive officer now owns 1,379,100 shares in the company, valued at approximately $20,851,992. The disclosure for this sale can be found here. Insiders have sold a total of 18,942,371 shares of company stock worth $541,393,732 in the last ninety days. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Several institutional investors have recently made changes to their positions in CHWY. Legacy Trust grew its position in Chewy by 10.3% in the 2nd quarter. Legacy Trust now owns 88,290 shares of the company’s stock worth $2,405,000 after purchasing an additional 8,273 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Chewy by 23.9% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 23,922 shares of the company’s stock valued at $652,000 after acquiring an additional 4,613 shares during the last quarter. Coastline Trust Co bought a new stake in Chewy during the second quarter worth $295,000. SG Americas Securities LLC boosted its position in Chewy by 125.6% in the second quarter. SG Americas Securities LLC now owns 94,838 shares of the company’s stock worth $2,583,000 after purchasing an additional 52,809 shares during the last quarter. Finally, Cetera Advisors LLC bought a new position in Chewy in the 1st quarter valued at $334,000. Institutional investors own 93.09% of the company’s stock.

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.