Chewy (NYSE:CHWY) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS

Chewy (NYSE:CHWY) posted its earnings results on Wednesday. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15, Briefing.com reports. Chewy had a return on equity of 21.00% and a net margin of 3.20%. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the previous year, the business earned ($0.08) earnings per share. Chewy’s quarterly revenue was up 5.2% compared to the same quarter last year. Chewy updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Chewy Price Performance

Shares of CHWY opened at $31.07 on Friday. Chewy has a 12 month low of $14.69 and a 12 month high of $39.10. The stock has a market cap of $12.99 billion, a PE ratio of 37.88, a P/E/G ratio of 3.15 and a beta of 1.12. The stock’s 50-day moving average is $30.42 and its two-hundred day moving average is $27.06.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on CHWY. Barclays increased their price objective on shares of Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, November 18th. The Goldman Sachs Group raised their price objective on shares of Chewy from $35.00 to $40.00 and gave the stock a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. upped their target price on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a research note on Thursday. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday. Finally, Robert W. Baird boosted their price target on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Chewy presently has an average rating of “Moderate Buy” and a consensus price target of $34.15.

Insider Buying and Selling

In other Chewy news, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, valued at $19,612,148.14. This represents a 1.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,128,804 shares of company stock valued at $827,019,626. Corporate insiders own 2.10% 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.