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

Royal Bank of Canada reaffirmed their outperform rating on shares of Chewy (NYSE:CHWY) in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a $42.00 price target on the stock.

Other research analysts have also recently issued research reports about the stock. Mizuho raised shares of Chewy from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $24.00 to $42.00 in a report on Monday, January 6th. Evercore ISI upgraded shares of Chewy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $34.00 to $47.00 in a research report on Monday, January 13th. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Guggenheim set a $42.00 price objective on Chewy and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Barclays upped their target price on Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Thursday. Six analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.68.

Chewy Stock Down 1.5 %

CHWY stock opened at $32.20 on Thursday. The company’s 50-day moving average price is $35.90 and its two-hundred day moving average price is $33.21. Chewy has a 12 month low of $14.69 and a 12 month high of $40.09. The firm has a market cap of $13.11 billion, a P/E ratio of 35.39, a P/E/G ratio of 2.21 and a beta of 1.23.

Chewy (NYSE:CHWY) last released its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the company earned $0.07 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis. Equities analysts predict that Chewy will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other Chewy news, CEO Sumit Singh sold 4,000 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $37.52, for a total value of $150,080.00. Following the sale, the chief executive officer now directly owns 518,581 shares in the company, valued at $19,457,159.12. The trade was a 0.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Satish Mehta sold 71,365 shares of the firm’s stock in a transaction 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 $9,357,566.80. The trade was a 21.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,083,269 shares of company stock valued at $290,611,129. Corporate insiders own 2.10% of the company’s stock.

Institutional Trading of Chewy

A number of large investors have recently modified their holdings of CHWY. Vanguard Group Inc. grew its stake in shares of Chewy by 31.8% in the fourth quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after purchasing an additional 3,493,926 shares during the last quarter. FMR LLC increased its stake in shares of Chewy by 166.8% during the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the period. Durable Capital Partners LP bought a new position in shares of Chewy during the fourth quarter valued at approximately $79,050,000. Invesco Ltd. lifted its stake in Chewy by 4,577.5% in the fourth quarter. Invesco Ltd. now owns 2,191,146 shares of the company’s stock worth $73,381,000 after acquiring an additional 2,144,302 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Chewy in the fourth quarter valued at $69,789,000. Institutional investors 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.