Chewy (NYSE:CHWY) Upgraded to “Hold” at Zacks Research

Zacks Research upgraded shares of Chewy (NYSE:CHWY) from a strong sell rating to a hold rating in a report released on Tuesday,Zacks.com reports.

Several other equities analysts have also commented on the company. UBS Group decreased their price target on Chewy from $32.00 to $24.00 and set a “neutral” rating on the stock in a research note on Thursday, June 11th. TD Cowen reissued a “buy” rating on shares of Chewy in a research report on Tuesday, June 23rd. Wall Street Zen lowered shares of Chewy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Bank of America decreased their target price on shares of Chewy from $33.00 to $31.00 in a research report on Thursday, June 11th. Finally, Morgan Stanley lowered their target price on shares of Chewy from $43.00 to $42.00 and set an “overweight” rating for the company in a research note on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Chewy has a consensus rating of “Moderate Buy” and an average price target of $32.05.

Chewy Stock Performance

Shares of Chewy stock opened at $22.35 on Tuesday. The stock has a 50 day moving average of $20.77 and a 200 day moving average of $23.71. The firm has a market capitalization of $9.15 billion, a price-to-earnings ratio of 37.25, a PEG ratio of 1.14 and a beta of 1.42. Chewy has a fifty-two week low of $17.40 and a fifty-two week high of $43.50.

Insider Transactions at Chewy

In other Chewy news, General Counsel Da-Wai Hu sold 4,203 shares of the stock in a transaction dated Monday, June 29th. The stock was sold at an average price of $19.49, for a total value of $81,916.47. Following the sale, the general counsel owned 4,103 shares of the company’s stock, valued at $79,967.47. This trade represents a 50.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Chewy

A number of large investors have recently made changes to their positions in the company. Harbour Investments Inc. lifted its stake in Chewy by 81.4% in the fourth quarter. Harbour Investments Inc. now owns 907 shares of the company’s stock worth $30,000 after acquiring an additional 407 shares during the last quarter. Osterweis Capital Management Inc. purchased a new stake in shares of Chewy in the 2nd quarter valued at approximately $30,000. Los Angeles Capital Management LLC acquired a new stake in shares of Chewy in the 4th quarter valued at $31,000. Modus Advisors LLC acquired a new stake in shares of Chewy in the 4th quarter valued at $34,000. Finally, Montag A & Associates Inc. raised its holdings in shares of Chewy by 58.8% in the 4th quarter. Montag A & Associates Inc. now owns 1,270 shares of the company’s stock valued at $42,000 after purchasing an additional 470 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

About Chewy

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.