Chewy’s (CHWY) Outperform Rating Reiterated at Royal Bank of Canada

Chewy (NYSE:CHWY)‘s stock had its “outperform” rating reiterated by analysts at Royal Bank of Canada in a research report issued to clients and investors on Thursday,Benzinga reports. They presently have a $42.00 target price on the stock. Royal Bank of Canada’s price objective would suggest a potential upside of 25.04% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Chewy in a research note on Thursday. JPMorgan Chase & Co. lifted their price objective on Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday. Morgan Stanley boosted their price target on shares of Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, January 13th. 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 note on Tuesday, December 3rd. Finally, Wolfe Research raised shares of Chewy from a “peer perform” rating to an “outperform” rating in a research note on Friday, January 3rd. Six analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Chewy presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.53.

Chewy Stock Performance

CHWY stock traded up $0.34 during mid-day trading on Thursday, reaching $33.59. 1,598,498 shares of the stock traded hands, compared to its average volume of 7,426,767. Chewy has a one year low of $14.69 and a one year high of $40.09. The business has a 50-day moving average price of $36.09 and a two-hundred day moving average price of $33.14. The stock has a market capitalization of $13.68 billion, a PE ratio of 36.85, a PEG ratio of 2.21 and a beta of 1.23.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $35.60, for a total value of $2,540,594.00. Following the completion of the transaction, the chief technology officer now directly owns 262,853 shares of the company’s stock, valued at approximately $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. Insiders sold a total of 8,083,269 shares of company stock valued at $290,611,129 over the last 90 days. Insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted its holdings in Chewy by 31.8% during 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 in the last quarter. FMR LLC lifted its stake 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 in the last quarter. Bank of New York Mellon Corp increased its stake in Chewy by 9.8% during the 4th quarter. Bank of New York Mellon Corp now owns 4,489,237 shares of the company’s stock worth $150,345,000 after buying an additional 399,330 shares in the last quarter. Clearbridge Investments LLC increased its stake in Chewy by 47.4% during the 4th quarter. Clearbridge Investments LLC now owns 3,866,680 shares of the company’s stock worth $129,495,000 after buying an additional 1,243,981 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC lifted its position in shares of Chewy by 5.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 2,765,931 shares of the company’s stock valued at $81,014,000 after acquiring an additional 138,768 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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.