Chewy, Inc. (NYSE:CHWY) Receives Average Recommendation of “Moderate Buy” from Brokerages

Chewy, Inc. (NYSE:CHWY) has received an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and sixteen have issued a buy rating on the company. The average 12-month price target among analysts that have covered the stock in the last year is $35.70.

A number of brokerages recently commented on CHWY. JPMorgan Chase & Co. increased their price target on Chewy from $37.00 to $38.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Barclays raised their price objective on shares of Chewy from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, November 18th. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. The Goldman Sachs Group boosted their price objective on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a report on Thursday, December 5th. Finally, Piper Sandler increased their target price on Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd.

Insiders Place Their Bets

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 1,250,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $29.40, for a total transaction of $36,750,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Sumit Singh sold 63,187 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $37.62, for a total transaction of $2,377,094.94. Following the completion of the sale, the chief executive officer now directly owns 643,939 shares of the company’s stock, valued at approximately $24,224,985.18. This represents a 8.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,053,806 shares of company stock worth $942,139,713. Insiders own 2.10% of the company’s stock.

Institutional Investors Weigh In On Chewy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BC Partners Advisors L.P. bought a new position in Chewy during the 2nd quarter valued at $7,517,800,000. Marshall Wace LLP lifted its holdings in shares of Chewy by 1,028.6% in the second quarter. Marshall Wace LLP now owns 2,892,841 shares of the company’s stock valued at $78,801,000 after buying an additional 2,636,526 shares during the period. FMR LLC lifted its holdings in shares of Chewy by 166.8% in the third quarter. FMR LLC now owns 3,995,329 shares of the company’s stock valued at $117,023,000 after buying an additional 2,497,689 shares during the period. Clearbridge Investments LLC bought a new position in Chewy during the second quarter valued at about $40,798,000. Finally, Eagle Asset Management Inc. grew its holdings in Chewy by 97.9% during the third quarter. Eagle Asset Management Inc. now owns 1,972,136 shares of the company’s stock worth $60,485,000 after acquiring an additional 975,647 shares during the period. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Performance

Chewy stock opened at $36.19 on Friday. The firm has a market capitalization of $14.74 billion, a PE ratio of 39.77, a price-to-earnings-growth ratio of 4.28 and a beta of 1.10. Chewy has a one year low of $14.69 and a one year high of $39.10. The stock’s 50 day moving average price is $33.10 and its 200 day moving average price is $29.23.

Chewy (NYSE:CHWY) last announced its earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. During the same period in the prior year, the firm earned ($0.08) earnings per share. The business’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, analysts forecast 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.