Chewy (NYSE:CHWY) Reaches New 1-Year Low After Analyst Downgrade

Chewy, Inc. (NYSE:CHWY)’s share price hit a new 52-week low during mid-day trading on Wednesday after Piper Sandler lowered their price target on the stock from $19.00 to $16.00. Piper Sandler currently has a neutral rating on the stock. Chewy traded as low as $15.07 and last traded at $15.09, with a volume of 8572021 shares traded. The stock had previously closed at $15.60.

Other equities research analysts have also issued research reports about the stock. Barclays upgraded shares of Chewy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $19.00 to $30.00 in a research note on Thursday, January 11th. Royal Bank of Canada reduced their price target on shares of Chewy from $35.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, March 22nd. Jefferies Financial Group cut their target price on shares of Chewy from $27.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday, March 21st. JMP Securities reiterated a “market outperform” rating and issued a $28.00 target price on shares of Chewy in a research note on Friday, March 15th. Finally, Mizuho began coverage on shares of Chewy in a research report on Tuesday, March 19th. They issued a “neutral” rating and a $18.00 price target on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.50.

Insider Buying and Selling at Chewy

In related news, CAO Stacy Bowman sold 8,025 shares of Chewy stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the sale, the chief accounting officer now directly owns 243,769 shares in the company, valued at approximately $3,785,732.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Chewy news, CEO Sumit Singh sold 6,728 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $104,485.84. Following the completion of the sale, the chief executive officer now directly owns 129,991 shares in the company, valued at approximately $2,018,760.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Stacy Bowman sold 8,025 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $15.53, for a total value of $124,628.25. Following the completion of the sale, the chief accounting officer now owns 243,769 shares of the company’s stock, valued at $3,785,732.57. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 250,169 shares of company stock valued at $4,396,079. 2.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Chewy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CHWY. Headinvest LLC acquired a new position in Chewy during the third quarter worth $39,000. Quest Partners LLC purchased a new stake in shares of Chewy in the 4th quarter valued at $65,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Chewy in the 1st quarter valued at $65,000. Signaturefd LLC increased its holdings in Chewy by 37.8% during the 4th quarter. Signaturefd LLC now owns 3,358 shares of the company’s stock worth $79,000 after purchasing an additional 922 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of Chewy by 15.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,022 shares of the company’s stock worth $95,000 after acquiring an additional 543 shares in the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

Chewy Stock Performance

The company has a 50-day moving average price of $16.81 and a 200-day moving average price of $18.65. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 188.65, a PEG ratio of 8.17 and a beta of 0.90.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, March 20th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.09. The business had revenue of $2.83 billion during the quarter, compared to the consensus estimate of $2.79 billion. Chewy had a return on equity of 11.69% and a net margin of 0.33%. On average, research analysts expect that Chewy, Inc. will post 0.08 earnings per share for the current fiscal year.

Chewy Company Profile

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.