Chewy (NYSE:CHWY) Raised to Hold at Seaport Res Ptn

Chewy (NYSE:CHWY) was upgraded by stock analysts at Seaport Res Ptn to a “hold” rating in a report released on Monday,Zacks.com reports.

CHWY has been the subject of several other research reports. UBS Group upped their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Evercore ISI upgraded Chewy from an “in-line” rating to an “outperform” rating and raised their price objective for the company from $34.00 to $47.00 in a research note on Monday, January 13th. Guggenheim set a $42.00 price target on shares of Chewy and gave the stock a “buy” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Argus raised Chewy from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Six research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $37.95.

Chewy Trading Up 0.4 %

CHWY stock opened at $34.01 on Monday. The company’s 50-day moving average price is $36.22 and its 200 day moving average price is $33.08. Chewy has a 52 week low of $14.69 and a 52 week high of $40.09. The company has a market cap of $13.85 billion, a P/E ratio of 37.37, a P/E/G ratio of 2.21 and a beta of 1.23.

Insider Buying and Selling

In other news, CFO David Reeder sold 307,558 shares of the firm’s stock in a transaction on Friday, February 7th. The shares were sold at an average price of $37.48, for a total value of $11,527,273.84. Following the sale, the chief financial officer now owns 546,257 shares in the company, valued at approximately $20,473,712.36. This trade represents a 36.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Argos Holdings Gp Llc sold 7,000,000 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $35.77, for a total transaction of $250,390,000.00. The disclosure for this sale can be found here. In the last three months, insiders sold 8,655,172 shares of company stock valued at $310,353,221. Company insiders own 2.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wealth Enhancement Advisory Services LLC grew its position in Chewy by 1.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock worth $661,000 after buying an additional 301 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Chewy by 22.9% during the 4th quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock worth $58,000 after purchasing an additional 320 shares in the last quarter. Fifth Third Bancorp increased its position in shares of Chewy by 83.0% during the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after purchasing an additional 444 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Chewy by 8.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,650 shares of the company’s stock valued at $189,000 after purchasing an additional 450 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB lifted its position in Chewy by 30.2% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock worth $94,000 after purchasing an additional 650 shares during the period. Institutional investors 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.