Chewy (NYSE:CHWY) Lowered to Neutral Rating by BNP Paribas

BNP Paribas downgraded shares of Chewy (NYSE:CHWY) from an outperform rating to a neutral rating in a report published on Thursday, Marketbeat reports.

Several other research firms also recently issued reports on CHWY. Royal Bank of Canada boosted their price objective on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a report on Thursday, August 29th. UBS Group upped their price target on Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Raymond James lowered Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their target price for the company from $28.00 to $40.00 in a research note on Friday, November 8th. Finally, Barclays raised their target price on Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, November 18th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.15.

Chewy Stock Up 1.6 %

Shares of NYSE:CHWY opened at $31.58 on Thursday. The company has a market cap of $13.20 billion, a price-to-earnings ratio of 34.70, a PEG ratio of 3.14 and a beta of 1.12. The business has a 50 day moving average price of $30.46 and a 200 day moving average price of $27.24. Chewy has a twelve month low of $14.69 and a twelve month high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a return on equity of 20.86% and a net margin of 3.51%. The company had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.86 billion. During the same period in the prior year, the business earned ($0.08) earnings per share. Chewy’s revenue for the quarter was up 5.2% compared to the same quarter last year. Analysts anticipate that Chewy will post 0.33 EPS for the current year.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Satish Mehta sold 8,056 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total value of $269,634.32. Following the completion of the transaction, the chief technology officer now directly owns 585,962 shares in the company, valued at approximately $19,612,148.14. This represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,128,804 shares of company stock valued at $827,019,626 in the last 90 days. 2.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Chewy

Several large investors have recently made changes to their positions in the company. Castellan Group acquired a new position in shares of Chewy during the third quarter valued at $5,282,000. Wilmington Savings Fund Society FSB bought a new stake in Chewy in the third quarter valued at about $63,000. Virtu Financial LLC bought a new stake in Chewy in the third quarter valued at about $795,000. Geode Capital Management LLC increased its holdings in Chewy by 8.4% in the third quarter. Geode Capital Management LLC now owns 1,550,844 shares of the company’s stock valued at $45,443,000 after purchasing an additional 119,633 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Chewy by 19.4% in the third quarter. Y Intercept Hong Kong Ltd now owns 58,661 shares of the company’s stock valued at $1,718,000 after purchasing an additional 9,548 shares during 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.