Chewy’s (CHWY) “Buy” Rating Reiterated at Guggenheim

Chewy (NYSE:CHWY)‘s stock had its “buy” rating reissued by research analysts at Guggenheim in a research note issued on Thursday, MarketBeat Ratings reports. They presently have a $45.00 price target on the stock, up from their previous price target of $42.00. Guggenheim’s target price points to a potential upside of 7.66% from the company’s previous close.

Several other research analysts also recently commented on CHWY. Cowen reaffirmed a “buy” rating on shares of Chewy in a report on Friday, June 6th. The Goldman Sachs Group lifted their target price on shares of Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, March 27th. Evercore ISI set a $52.00 price target on Chewy and gave the stock an “outperform” rating in a research note on Thursday. UBS Group boosted their target price on Chewy from $36.00 to $46.00 and gave the stock a “neutral” rating in a research report on Thursday, June 5th. Finally, Barclays boosted their target price on Chewy from $44.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 28th. Nine 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 stock has an average rating of “Moderate Buy” and an average target price of $43.72.

Chewy Trading Up 0.3%

Shares of CHWY traded up $0.13 during midday trading on Thursday, reaching $41.80. The stock had a trading volume of 2,365,933 shares, compared to its average volume of 6,933,741. Chewy has a one year low of $19.75 and a one year high of $48.62. The firm has a market cap of $17.29 billion, a PE ratio of 45.88, a P/E/G ratio of 2.21 and a beta of 1.75. The firm has a 50 day simple moving average of $39.84 and a 200-day simple moving average of $36.68.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.08 billion. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.31 EPS. As a group, research analysts forecast that Chewy will post 0.24 EPS for the current fiscal year.

Insider Transactions at Chewy

In other Chewy news, CFO David Reeder sold 11,582 shares of the company’s stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $36.44, for a total transaction of $422,048.08. Following the completion of the sale, the chief financial officer now directly owns 397,556 shares of the company’s stock, valued at $14,486,940.64. This represents a 2.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Sumit Singh sold 148,063 shares of the stock in a transaction dated Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the transaction, the chief executive officer now directly owns 705,252 shares of the company’s stock, valued at $28,682,598.84. This represents a 17.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 236,046 shares of company stock worth $9,387,635. 0.43% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. BC Partners PE LP purchased a new stake in Chewy in the first quarter valued at approximately $7,142,402,000. Vanguard Group Inc. boosted its stake in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock valued at $485,093,000 after purchasing an additional 3,493,926 shares during the period. FMR LLC boosted its position in Chewy by 32.4% in the 4th quarter. FMR LLC now owns 5,288,757 shares of the company’s stock valued at $177,120,000 after buying an additional 1,293,428 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Chewy by 9.8% in the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock valued at $150,345,000 after buying an additional 399,330 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Chewy by 47.4% in the fourth quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock valued at $129,495,000 after purchasing an additional 1,243,981 shares during the last quarter. 93.09% of the stock is owned by hedge funds and other 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.