Chewy (NYSE:CHWY) Cut to Hold at Wall Street Zen

Chewy (NYSE:CHWY - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

Other research analysts have also issued reports about the stock. Deutsche Bank Aktiengesellschaft set a $27.00 target price on shares of Chewy and gave the company a "hold" rating in a research note on Monday, April 14th. UBS Group increased their target price on shares of Chewy from $36.00 to $46.00 and gave the company a "neutral" rating in a research note on Thursday, June 5th. JPMorgan Chase & Co. boosted their price target on shares of Chewy from $36.00 to $47.00 and gave the company an "overweight" rating in a report on Thursday. Jefferies Financial Group reiterated a "hold" rating and issued a $43.00 price objective (up previously from $41.00) on shares of Chewy in a research note on Thursday, June 5th. Finally, Guggenheim upped their price objective on shares of Chewy from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.72.

Chewy Price Performance

NYSE CHWY opened at $41.62 on Friday. Chewy has a 1 year low of $19.75 and a 1 year high of $48.62. The company has a market capitalization of $17.22 billion, a PE ratio of 45.74, a P/E/G ratio of 2.21 and a beta of 1.75. The company has a fifty day moving average of $39.84 and a two-hundred day moving average of $36.63.

Chewy (NYSE:CHWY - Get Free Report) last issued its earnings results on Wednesday, June 11th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company had revenue of $3.12 billion during the quarter, compared to analysts' expectations of $3.08 billion. During the same period last year, the company posted $0.31 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. On average, research analysts expect that Chewy will post 0.24 earnings per share for the current year.

Insider Transactions at Chewy

In other Chewy news, CEO Sumit Singh sold 148,063 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $40.67, for a total transaction of $6,021,722.21. Following the completion of the sale, the chief executive officer now owns 705,252 shares of the company's stock, valued at approximately $28,682,598.84. This represents a 17.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Satish Mehta sold 9,243 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total transaction of $337,369.50. Following the sale, the chief technology officer now directly owns 276,467 shares of the company's stock, valued at $10,091,045.50. This represents a 3.24% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 236,046 shares of company stock valued at $9,387,635. 0.43% of the stock is currently owned by insiders.

Institutional Trading of Chewy

Several large investors have recently modified their holdings of CHWY. State of Alaska Department of Revenue acquired a new stake in shares of Chewy during the 4th quarter worth approximately $578,000. Louisiana State Employees Retirement System bought a new position in shares of Chewy in the 4th quarter worth $1,530,000. Van ECK Associates Corp lifted its holdings in shares of Chewy by 1,391.3% in the 4th quarter. Van ECK Associates Corp now owns 142,558 shares of the company's stock worth $4,774,000 after purchasing an additional 132,999 shares in the last quarter. New York State Teachers Retirement System bought a new position in shares of Chewy in the 4th quarter worth $1,570,000. Finally, New Mexico Educational Retirement Board bought a new position in Chewy during the 4th quarter valued at $971,000. Institutional investors and hedge funds 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.

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