Zacks Investment Research lowered shares of Chewy (NYSE:CHWY) from a buy rating to a hold rating in a research note published on Tuesday, Zacks.com reports.
According to Zacks, “Chewy Inc. operates as an online pet retailer. The Company offers pet products which include dry and wet food, toys, mats, biscuits, vitamins and supplements. Chewy Inc. is based in Dania Beach, United States. “
Several other brokerages also recently commented on CHWY. William Blair reaffirmed a buy rating on shares of Chewy in a report on Friday, June 12th. Jefferies Financial Group lifted their target price on shares of Chewy from $48.00 to $59.00 and gave the stock a hold rating in a report on Friday, September 11th. Nomura lifted their target price on shares of Chewy from $40.00 to $62.00 and gave the stock a buy rating in a report on Wednesday, June 10th. Morgan Stanley boosted their price objective on shares of Chewy from $45.00 to $49.00 and gave the company an equal weight rating in a report on Friday, September 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Chewy from $60.00 to $70.00 and gave the company an overweight rating in a report on Friday, August 28th. Seven investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $59.56.
Shares of CHWY stock opened at $55.18 on Tuesday. The company has a market capitalization of $21.28 billion, a price-to-earnings ratio of -98.38 and a beta of -0.21. The company has a 50-day simple moving average of $56.39 and a 200 day simple moving average of $44.95. Chewy has a 52 week low of $20.62 and a 52 week high of $74.84.
Chewy (NYSE:CHWY) last announced its earnings results on Thursday, September 10th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.15) by $0.07. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.64 billion. The business’s quarterly revenue was up 47.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.21) EPS. As a group, equities research analysts anticipate that Chewy will post -0.36 earnings per share for the current fiscal year.
In related news, CEO Sumit Singh sold 195,000 shares of the company’s stock in a transaction that occurred on Friday, June 19th. The shares were sold at an average price of $49.36, for a total transaction of $9,625,200.00. Following the completion of the transaction, the chief executive officer now directly owns 455,343 shares in the company, valued at approximately $22,475,730.48. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Mario Jesus Marte sold 32,037 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $45.81, for a total transaction of $1,467,614.97. Following the transaction, the chief financial officer now owns 199,284 shares of the company’s stock, valued at $9,129,200.04. The disclosure for this sale can be found here. Insiders sold a total of 933,208 shares of company stock valued at $49,995,936 over the last 90 days. Corporate insiders own 0.40% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Liberty One Investment Management LLC acquired a new position in Chewy during the 2nd quarter worth approximately $27,000. Asset Dedication LLC increased its position in Chewy by 531.0% in the 2nd quarter. Asset Dedication LLC now owns 631 shares of the company’s stock valued at $28,000 after acquiring an additional 531 shares during the period. Ameritas Investment Company LLC acquired a new position in Chewy in the 1st quarter valued at approximately $29,000. PNC Financial Services Group Inc. increased its position in Chewy by 805.6% in the 1st quarter. PNC Financial Services Group Inc. now owns 815 shares of the company’s stock valued at $31,000 after acquiring an additional 725 shares during the period. Finally, Centerpoint Advisors LLC increased its position in Chewy by 50.0% in the 2nd quarter. Centerpoint Advisors LLC now owns 750 shares of the company’s stock valued at $34,000 after acquiring an additional 250 shares during the period. Institutional investors and hedge funds own 99.32% of the company’s stock.
Chewy, Inc, together with its subsidiaries, engages in the pure play e-commerce business in the United States. The company provides pet food, pet products, pet medications, and other pet health products for dogs, cats, fish, birds, small pets, horses, and reptiles through its chewy.com retail Website, as well as its mobile applications.
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