Chewy (NYSE:CHWY) Cut to “Hold” at Argus

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

Several other research analysts also recently weighed in on CHWY. Wedbush lifted their target price on Chewy from $28.00 to $35.00 and gave the company an outperform rating in a research note on Thursday, June 27th. UBS Group boosted their price objective on shares of Chewy from $19.00 to $21.00 and gave the company a neutral rating in a research note on Thursday, May 30th. Piper Sandler raised their target price on shares of Chewy from $16.00 to $22.00 and gave the stock a neutral rating in a research note on Thursday, May 30th. The Goldman Sachs Group dropped their price target on shares of Chewy from $36.00 to $32.00 and set a buy rating on the stock in a research note on Thursday, March 21st. Finally, Guggenheim raised their price objective on shares of Chewy from $25.00 to $32.00 and gave the company a buy rating in a research report on Friday, June 28th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $26.50.

Chewy Trading Up 4.3 %

Shares of CHWY opened at $26.48 on Tuesday. The company’s 50 day simple moving average is $21.54 and its 200-day simple moving average is $19.17. The firm has a market cap of $11.52 billion, a PE ratio of 147.11, a price-to-earnings-growth 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.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, May 29th. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $2.85 billion. As a group, equities research analysts forecast that Chewy will post 0.23 EPS for the current fiscal year.

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

Institutional Trading of Chewy

A number of hedge funds have recently bought and sold shares of the company. Headinvest LLC acquired a new stake in shares of Chewy during the third quarter worth $39,000. Quest Partners LLC acquired a new stake in Chewy in the 4th quarter worth about $65,000. Signaturefd LLC grew its holdings in Chewy by 37.8% in the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock valued at $79,000 after buying an additional 922 shares during the period. Allspring Global Investments Holdings LLC increased 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 valued at $95,000 after acquiring an additional 543 shares during the last quarter. Finally, EntryPoint Capital LLC lifted its holdings in shares of Chewy by 18.0% during the 1st 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. 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.