Chewy (NYSE:CHWY) Sets New 1-Year High – Here’s What Happened

Chewy, Inc. (NYSE:CHWY) reached a new 52-week high during trading on Monday . The stock traded as high as $42.83 and last traded at $42.67, with a volume of 708542 shares changing hands. The stock had previously closed at $41.76.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on CHWY. Wedbush reaffirmed an “outperform” rating and set a $39.00 price target on shares of Chewy in a report on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 price target on Chewy and gave the stock a “hold” rating in a research report on Monday, April 14th. Morgan Stanley decreased their price target on Chewy from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Seaport Res Ptn upgraded Chewy to a “hold” rating in a research report on Monday, March 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Chewy in a research report on Thursday, March 27th. Six equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Chewy presently has a consensus rating of “Moderate Buy” and a consensus price target of $38.47.

Chewy Stock Performance

The stock has a market cap of $17.85 billion, a P/E ratio of 47.33, a P/E/G ratio of 2.21 and a beta of 1.69. The business has a 50 day simple moving average of $35.07 and a 200-day simple moving average of $34.93.

Chewy (NYSE:CHWY) last released its quarterly earnings data on Wednesday, March 26th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.03 by $0.25. The business had revenue of $3.25 billion for the quarter, compared to the consensus estimate of $3.20 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.07 earnings per share. On average, sell-side analysts predict that Chewy, Inc. will post 0.24 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Satish Mehta sold 71,365 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $35.60, for a total transaction of $2,540,594.00. Following the transaction, the chief technology officer now owns 262,853 shares in the company, valued at $9,357,566.80. The trade was a 21.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Sumit Singh sold 8,552 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the transaction, the chief executive officer now owns 62,096 shares in the company, valued at $2,070,901.60. This represents a 12.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 307,411 shares of company stock valued at $11,928,229 over the last quarter. 2.10% of the stock is owned by corporate insiders.

Institutional Trading of Chewy

Several institutional investors have recently bought and sold shares of CHWY. Mutual of America Capital Management LLC bought a new stake in shares of Chewy in the fourth quarter worth approximately $2,915,000. Raymond James Financial Inc. purchased a new position in Chewy during the fourth quarter valued at approximately $69,789,000. Birch Hill Investment Advisors LLC purchased a new position in Chewy during the fourth quarter valued at approximately $1,174,000. Interval Partners LP purchased a new stake in shares of Chewy in the fourth quarter worth about $1,536,000. Finally, Money Concepts Capital Corp purchased a new position in Chewy during the 4th quarter valued at approximately $225,000. 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.