Chewy (NYSE:CHWY) Trading Down 4% – Here’s Why

Chewy, Inc. (NYSE:CHWY) shares fell 4% during mid-day trading on Friday . The stock traded as low as $33.37 and last traded at $34.45. 1,870,606 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 8,681,854 shares. The stock had previously closed at $35.87.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CHWY shares. Wedbush reaffirmed an “outperform” rating and issued a $35.00 price objective on shares of Chewy in a report on Thursday, August 29th. JPMorgan Chase & Co. upped their price objective on Chewy from $28.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 29th. UBS Group raised their target price on Chewy from $21.00 to $30.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Citigroup raised shares of Chewy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $28.00 to $40.00 in a research note on Friday, November 8th. Finally, Robert W. Baird boosted their target price on Chewy from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Tuesday, August 20th. Eight equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $31.65.

Chewy Price Performance

The business has a 50 day moving average of $29.85 and a 200 day moving average of $25.85. The firm has a market capitalization of $14.46 billion, a price-to-earnings ratio of 41.11, a PEG ratio of 3.29 and a beta of 1.06.

Chewy (NYSE:CHWY) last issued its quarterly earnings results on Wednesday, August 28th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion during the quarter, compared to analysts’ expectations of $2.86 billion. As a group, equities analysts predict that Chewy, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total value of $36,750,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Large investors have recently bought and sold shares of the company. 1620 Investment Advisors Inc. bought a new stake in shares of Chewy during the second quarter worth about $33,000. Blue Trust Inc. raised its position in Chewy by 183.6% during the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock worth $38,000 after purchasing an additional 905 shares during the last quarter. Industrial Alliance Investment Management Inc. acquired a new position in Chewy during the 2nd quarter worth about $44,000. First Horizon Advisors Inc. acquired a new stake in shares of Chewy in the second quarter valued at about $48,000. Finally, Planning Capital Management Corp bought a new position in shares of Chewy during the third quarter worth about $52,000. 93.09% of the stock is currently owned by institutional investors and hedge funds.

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.