Chewy (NYSE:CHWY) Downgraded by Argus

Argus downgraded shares of Chewy (NYSE:CHWY) from a buy rating to a hold rating in a research note published on Tuesday, MarketBeat Ratings reports.

Several other research firms have also commented on CHWY. Royal Bank of Canada decreased their price objective on Chewy from $35.00 to $22.00 and set an outperform rating for the company in a research note on Friday, March 22nd. Needham & Company LLC lifted 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. Wedbush increased their target price on shares of Chewy from $28.00 to $35.00 and gave the company an outperform rating in a research report on Thursday, June 27th. JMP Securities reaffirmed a market outperform rating and issued a $28.00 price target on shares of Chewy in a report on Friday, March 15th. Finally, Piper Sandler upped their price target on Chewy from $16.00 to $22.00 and gave the stock a neutral rating in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Chewy has a consensus rating of Moderate Buy and an average price target of $26.50.

Chewy Trading Up 4.3 %

CHWY opened at $26.48 on Tuesday. The company has a market capitalization of $11.52 billion, a price-to-earnings ratio of 147.11, a PEG ratio of 3.71 and a beta of 1.03. Chewy has a 12-month low of $14.69 and a 12-month high of $39.46. The business’s fifty day simple moving average is $21.54 and its 200-day simple moving average is $19.17.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, May 29th. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.11. Chewy had a net margin of 0.73% and a return on equity of 16.62%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.85 billion. On average, equities research analysts predict that Chewy will post 0.23 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $28.49, for a total value of $499,999,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder Argos Holdings Gp Llc sold 17,550,000 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $28.49, for a total value of $499,999,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Sumit Singh sold 46,090 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $15.12, for a total transaction of $696,880.80. Following the sale, the chief executive officer now owns 1,379,100 shares in the company, valued at approximately $20,851,992. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,942,371 shares of company stock valued at $541,393,732. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its stake 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 worth $95,000 after buying an additional 543 shares during the period. EntryPoint Capital LLC raised its position in Chewy by 18.0% during the first quarter. EntryPoint Capital LLC now owns 4,066 shares of the company’s stock worth $65,000 after acquiring an additional 619 shares during the period. B. Riley Wealth Advisors Inc. lifted its holdings in Chewy by 3.2% during the first 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% in the fourth quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after purchasing an additional 922 shares during the period. Finally, Liberty One Investment Management LLC increased its stake in shares of Chewy by 23.7% during the fourth quarter. Liberty One Investment Management LLC now owns 6,483 shares of the company’s stock worth $153,000 after purchasing an additional 1,241 shares in the last quarter. Institutional investors and hedge funds 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.