Argus Downgrades Chewy (NYSE:CHWY) to Hold

Chewy (NYSE:CHWYGet Free Report) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports.

A number of other research firms have also recently issued reports on CHWY. Evercore ISI increased their price objective on shares of Chewy from $19.00 to $22.00 and gave the stock an “in-line” rating in a research report on Friday, May 31st. JMP Securities reissued a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research report on Friday, March 15th. Needham & Company LLC increased their price objective on shares of Chewy from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Chewy from $18.00 to $20.00 and gave the stock a “hold” rating in a research report on Thursday, May 30th. Finally, Royal Bank of Canada dropped their price target on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $26.50.

View Our Latest Analysis on CHWY

Chewy Trading Up 2.4 %

Shares of Chewy stock opened at $25.41 on Tuesday. The business has a 50-day moving average price of $21.33 and a two-hundred day moving average price of $19.12. Chewy has a 1-year low of $14.69 and a 1-year high of $39.46. The company has a market cap of $11.05 billion, a P/E ratio of 141.17, a PEG ratio of 3.71 and a beta of 1.03.

Chewy (NYSE:CHWYGet Free Report) last issued its quarterly earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.11. Chewy had a return on equity of 16.62% and a net margin of 0.73%. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.85 billion. Equities research analysts forecast that Chewy will post 0.23 EPS for the current fiscal year.

Insider Transactions at Chewy

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CTO Satish Mehta sold 8,019 shares of Chewy stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total value of $121,247.28. Following the completion of the transaction, the chief technology officer now directly owns 569,594 shares in the company, valued at approximately $8,612,261.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of Chewy stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total transaction of $499,999,500.00. The disclosure for this sale can be found here. Insiders sold a total of 18,942,371 shares of company stock worth $541,393,732 in the last quarter. Insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position in shares of Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock valued at $95,000 after purchasing an additional 543 shares in the last quarter. EntryPoint Capital LLC grew its position in shares of Chewy by 18.0% during the 1st quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock valued at $65,000 after purchasing an additional 619 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its position in shares of Chewy by 3.2% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 28,359 shares of the company’s stock valued at $451,000 after purchasing an additional 870 shares in the last quarter. Signaturefd LLC grew its position in shares of Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares in the last quarter. Finally, Liberty One Investment Management LLC grew its position in shares of Chewy by 23.7% during the 4th quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock valued at $153,000 after purchasing an additional 1,241 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Company Profile

(Get Free Report)

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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Analyst Recommendations for Chewy (NYSE:CHWY)

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