Chewy’s (CHWY) Outperform Rating Reiterated at Wedbush

Wedbush reaffirmed their outperform rating on shares of Chewy (NYSE:CHWY) in a research report sent to investors on Monday morning,Benzinga reports. The brokerage currently has a $39.00 target price on the stock.

Several other research analysts also recently issued reports on the stock. The Goldman Sachs Group upped their target price on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Robert W. Baird boosted their price target on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, November 25th. Argus raised Chewy from a “hold” rating to a “buy” rating in a research report on Thursday, January 23rd. UBS Group increased their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Finally, Guggenheim set a $42.00 price target on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued 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 price target of $37.30.

Chewy Stock Performance

Shares of NYSE CHWY opened at $32.30 on Monday. The company has a market capitalization of $13.15 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 2.21 and a beta of 1.23. The company has a 50 day simple moving average of $36.38 and a two-hundred day simple moving average of $32.92. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $40.09.

Insider Activity

In related news, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $35.77, for a total value of $250,390,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Sumit Singh sold 571,903 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $34.52, for a total value of $19,742,091.56. Following the sale, the chief executive officer now directly owns 898,222 shares in the company, valued at $31,006,623.44. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 8,726,333 shares of company stock worth $312,843,856 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several large investors have recently modified their holdings of CHWY. California State Teachers Retirement System grew its stake in shares of Chewy by 16.5% during the fourth quarter. California State Teachers Retirement System now owns 155,785 shares of the company’s stock valued at $5,217,000 after buying an additional 22,033 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Chewy during the fourth quarter valued at $154,000. Integrated Advisors Network LLC bought a new position in shares of Chewy in the fourth quarter worth about $235,000. Polar Asset Management Partners Inc. lifted its holdings in Chewy by 26.5% during the 4th quarter. Polar Asset Management Partners Inc. now owns 288,733 shares of the company’s stock valued at $9,670,000 after buying an additional 60,533 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Chewy in the 4th quarter valued at about $318,000. Institutional investors 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.