Chewy, Inc. (NYSE:CHWY) Receives Average Recommendation of “Moderate Buy” from Analysts

Chewy, Inc. (NYSE:CHWY) has received a consensus recommendation of “Moderate Buy” from the twenty-two brokerages that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and twelve have given a buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $29.55.

A number of brokerages have issued reports on CHWY. Citigroup increased their target price on shares of Chewy from $16.00 to $28.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Barclays lifted their price objective on Chewy from $32.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. Wedbush reissued an “outperform” rating and issued a $35.00 target price on shares of Chewy in a report on Thursday, August 29th. Raymond James downgraded Chewy from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 21st. Finally, 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 research report on Thursday, August 29th.

Insider Buying and Selling

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of Chewy stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $29.40, for a total value of $789,999,991.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Chewy news, major shareholder Argos Holdings Gp Llc sold 26,870,748 shares of the stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $29.40, for a total transaction of $789,999,991.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,138,627 shares of company stock worth $827,147,620. 2.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. purchased a new stake in shares of Chewy during the 2nd quarter worth about $33,000. Blue Trust Inc. grew its stake in Chewy by 183.6% during the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after buying an additional 905 shares during the period. Industrial Alliance Investment Management Inc. acquired a new stake in shares of Chewy in the second quarter worth $44,000. First Horizon Advisors Inc. purchased a new position in shares of Chewy in the 2nd quarter valued at $48,000. Finally, Skylands Capital LLC acquired a new position in shares of Chewy during the 2nd quarter valued at $52,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

Chewy Price Performance

Shares of CHWY stock opened at $26.79 on Tuesday. The business’s fifty day moving average price is $28.68 and its 200 day moving average price is $24.10. The firm has a market capitalization of $11.65 billion, a PE ratio of 148.81, a P/E/G ratio of 3.04 and a beta of 1.05. Chewy has a 1-year low of $14.69 and a 1-year high of $39.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The business had revenue of $2.86 billion for the quarter, compared to analysts’ expectations of $2.86 billion. Equities research analysts expect that Chewy will post 0.32 earnings per share for the current fiscal year.

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.