Chewy (NYSE:CHWY) Upgraded by Zacks Research to Hold Rating

Chewy (NYSE:CHWY) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

A number of other brokerages also recently issued reports on CHWY. Wall Street Zen downgraded shares of Chewy from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Moffett Nathanson set a $28.00 target price on Chewy in a research report on Thursday, June 11th. UBS Group lowered their price target on Chewy from $32.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, June 11th. The Goldman Sachs Group cut their price objective on Chewy from $46.00 to $34.00 and set a “buy” rating for the company in a research report on Friday, June 12th. Finally, Citizens Jmp reduced their price objective on shares of Chewy from $45.00 to $28.00 and set a “market outperform” rating on the stock in a report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.05.

Chewy Stock Down 0.5%

NYSE CHWY opened at $22.35 on Tuesday. Chewy has a 52 week low of $17.40 and a 52 week high of $43.50. The firm has a market cap of $9.15 billion, a PE ratio of 37.25, a P/E/G ratio of 1.14 and a beta of 1.42. The business’s fifty day simple moving average is $20.77 and its 200-day simple moving average is $23.71.

Insider Transactions at Chewy

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

Institutional Investors Weigh In On Chewy

Several institutional investors and hedge funds have recently modified their holdings of CHWY. Royal Bank of Canada boosted its stake in shares of Chewy by 2.5% in the first quarter. Royal Bank of Canada now owns 220,509 shares of the company’s stock valued at $7,168,000 after purchasing an additional 5,466 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Chewy during the 1st quarter worth approximately $510,000. NewEdge Advisors LLC boosted its position in Chewy by 5,238.3% in the 1st quarter. NewEdge Advisors LLC now owns 32,510 shares of the company’s stock valued at $1,057,000 after buying an additional 31,901 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Chewy by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,176,138 shares of the company’s stock worth $38,236,000 after acquiring an additional 17,788 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Chewy by 31.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 383,966 shares of the company’s stock worth $12,483,000 after acquiring an additional 92,129 shares in the last quarter. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Company Profile

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.