Chewy (NYSE:CHWY) CEO Sells $492,242.80 in Stock

Chewy (NYSE:CHWY) CEO Sumit Singh sold 23,002 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $21.40, for a total value of $492,242.80. Following the completion of the sale, the chief executive officer directly owned 899,118 shares of the company’s stock, valued at approximately $19,241,125.20. This trade represents a 2.49% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sumit Singh also recently made the following trade(s):

• On Monday, November 2nd, Sumit Singh sold 3,228 shares of Chewy stock. The shares were sold at an average price of $21.40, for a total transaction of $69,079.20.

Chewy Trading Up 6.0%

CHWY traded up $1.31 during mid-day trading on Wednesday, hitting $23.36. The stock had a trading volume of 8,546,168 shares, compared to its average volume of 8,569,400. The stock’s fifty day simple moving average is $20.85 and its 200-day simple moving average is $23.25. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.84 and a quick ratio of 0.42. The firm has a market capitalization of $9.39 billion, a price-to-earnings ratio of 35.40, a price-to-earnings-growth ratio of 0.93 and a beta of 1.33. Chewy has a 1-year low of $17.40 and a 1-year high of $37.34.

Chewy (NYSE:CHWY) last announced its quarterly earnings results on Wednesday, September 9th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.18. Chewy had a net margin of 2.09% and a return on equity of 60.88%. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.32 billion. During the same period last year, the firm posted $0.33 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. As a group, research analysts forecast that Chewy will post 0.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Rosenblatt Securities lowered their price target on Chewy from $25.00 to $24.00 and set a “neutral” rating for the company in a report on Thursday, September 10th. Citigroup reissued a “market outperform” rating on shares of Chewy in a research note on Thursday, September 10th. Morgan Stanley dropped their target price on shares of Chewy from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, September 10th. Raymond James Financial upped their price target on shares of Chewy from $25.00 to $28.00 and gave the company an “outperform” rating in a report on Friday, September 4th. Finally, Citizens Jmp reissued a “market outperform” rating and set a $28.00 price objective on shares of Chewy in a research report on Thursday, September 10th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.45.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Van Berkom & Associates Inc. acquired a new stake in Chewy in the 3rd quarter valued at approximately $52,181,000. Pictet Asset Management Holding SA lifted its stake in Chewy by 6.3% in the 3rd quarter. Pictet Asset Management Holding SA now owns 36,327 shares of the company’s stock valued at $661,000 after acquiring an additional 2,150 shares in the last quarter. CenterBook Partners LP acquired a new position in Chewy during the 3rd quarter worth approximately $555,000. Kestra Advisory Services LLC boosted its position in Chewy by 20.4% during the 3rd quarter. Kestra Advisory Services LLC now owns 120,780 shares of the company’s stock worth $2,198,000 after acquiring an additional 20,461 shares during the last quarter. Finally, Chicago Partners Investment Group LLC acquired a new position in Chewy during the 3rd quarter worth approximately $233,000. 93.09% of the stock is owned by institutional investors and hedge funds.

Chewy Company Profile

Chewy, Inc is an e-commerce company focused on pet products and services. Through its website and mobile platforms, the company sells pet food, treats, toys, supplies, and accessories for dogs, cats, fish, birds, reptiles, and other household pets.

Chewy also offers pet medications and veterinary-related products through its online pharmacy, as well as services such as Autoship subscriptions, which allow customers to schedule recurring deliveries. Its assortment includes national brands and private-label products, and the company emphasizes customer service, convenience, and personalized recommendations.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated as an online pet-food retailer before expanding into a broader pet-commerce platform.