Chewy, Inc. (NYSE:CHWY) Receives $40.18 Average PT from Brokerages

Chewy, Inc. (NYSE:CHWY) has earned a consensus rating of “Moderate Buy” from the twenty-five ratings firms that are currently covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $41.00.

CHWY has been the subject of a number of recent research reports. Citigroup increased their target price on Chewy from $40.00 to $42.00 and gave the stock a “buy” rating in a report on Thursday, March 27th. The Goldman Sachs Group raised their price target on Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Needham & Company LLC reaffirmed a “hold” rating on shares of Chewy in a report on Thursday, March 27th. Jefferies Financial Group reiterated a “hold” rating and issued a $43.00 price objective (up from $41.00) on shares of Chewy in a research report on Thursday. Finally, JMP Securities reduced their target price on Chewy from $40.00 to $39.00 and set a “market outperform” rating on the stock in a report on Monday, April 14th.

Insider Buying and Selling at Chewy

In other news, CEO Sumit Singh sold 148,063 shares of the company’s stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $40.67, for a total value of $6,021,722.21. Following the transaction, the chief executive officer now owns 705,252 shares of the company’s stock, valued at approximately $28,682,598.84. This represents a 17.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David Reeder sold 7,863 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total value of $286,999.50. Following the completion of the transaction, the chief financial officer now directly owns 11,582 shares in the company, valued at $422,743. The trade was a 40.44% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 236,046 shares of company stock worth $9,387,635 over the last 90 days. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in shares of Chewy by 150.2% in the 1st quarter. Parallel Advisors LLC now owns 788 shares of the company’s stock valued at $26,000 after purchasing an additional 473 shares in the last quarter. Banque Transatlantique SA bought a new position in Chewy during the 4th quarter worth $30,000. Golden State Wealth Management LLC raised its position in Chewy by 104.6% during the 1st quarter. Golden State Wealth Management LLC now owns 941 shares of the company’s stock worth $31,000 after purchasing an additional 481 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in Chewy during the 1st quarter worth $44,000. Finally, North Star Investment Management Corp. raised its position in shares of Chewy by 26.6% in the 1st quarter. North Star Investment Management Corp. now owns 1,678 shares of the company’s stock worth $55,000 after acquiring an additional 353 shares in the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Trading Up 1.4%

Shares of CHWY stock opened at $48.16 on Wednesday. The stock has a 50 day moving average of $38.76 and a two-hundred day moving average of $36.36. Chewy has a 12 month low of $19.75 and a 12 month high of $48.62. The company has a market capitalization of $19.92 billion, a P/E ratio of 52.92, a P/E/G ratio of 2.21 and a beta of 1.75.

Chewy (NYSE:CHWY) last issued its earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.25. Chewy had a return on equity of 24.47% and a net margin of 3.51%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same period in the prior year, the firm posted $0.07 EPS. Chewy’s quarterly revenue was up 15.0% compared to the same quarter last year. Sell-side analysts predict that Chewy will post 0.24 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.