Chewy, Inc. (NYSE:CHWY) Given Average Rating of “Moderate Buy” by Analysts

Shares of Chewy, Inc. (NYSE:CHWY) have received a consensus rating of “Moderate Buy” from the twenty-three ratings firms that are presently covering the stock, MarketBeat reports. Eight research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $34.60.

A number of analysts recently issued reports on the company. BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a research note on Thursday, December 5th. Morgan Stanley raised their price target on shares of Chewy from $33.00 to $36.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Wedbush reaffirmed an “outperform” rating and issued a $39.00 price target (up previously from $35.00) on shares of Chewy in a report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on Chewy from $24.00 to $28.00 and gave the company a “hold” rating in a research note on Friday, November 22nd. Finally, Royal Bank of Canada upped their target price on Chewy from $39.00 to $42.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th.

Chewy Stock Performance

CHWY stock opened at $35.96 on Friday. The stock has a fifty day moving average of $32.34 and a 200-day moving average of $28.94. Chewy has a fifty-two week low of $14.69 and a fifty-two week high of $39.10. The company has a market capitalization of $14.64 billion, a price-to-earnings ratio of 39.52, a PEG ratio of 4.28 and a beta of 1.12.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The firm had revenue of $2.89 billion during the quarter, compared to analyst estimates of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company’s quarterly revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business earned ($0.08) earnings per share. Equities analysts predict that Chewy will post 0.24 EPS for the current year.

Insider Activity at Chewy

In related news, CTO Satish Mehta sold 8,056 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $33.47, for a total transaction of $269,634.32. Following the completion of the transaction, the chief technology officer now owns 585,962 shares in the company, valued at $19,612,148.14. This represents a 1.36 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $32.50, for a total transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now owns 77,838 shares in the company, valued at approximately $2,529,735. This trade represents a 47.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 21,799,523 shares of company stock worth $682,554,313 in the last three months. 2.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. raised its position in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after acquiring an additional 905 shares in the last quarter. Planning Capital Management Corp bought a new position in Chewy in the third quarter worth $52,000. Future Financial Wealth Managment LLC purchased a new position in Chewy during the third quarter valued at $62,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Chewy during the 3rd quarter valued at $63,000. Finally, Castleview Partners LLC purchased a new stake in shares of Chewy in the 3rd quarter worth about $76,000. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.