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

Shares of Chewy, Inc. (NYSE:CHWY) have earned a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and eighteen have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $36.80.

Several equities research analysts recently commented on the company. Robert W. Baird boosted their target price on Chewy from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Barclays upped their price objective on Chewy from $34.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, November 18th. TD Cowen started coverage on Chewy in a report on Wednesday, October 9th. They set a “buy” rating and a $38.00 target price on the stock. Piper Sandler upped their price target on shares of Chewy from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Chewy from $37.00 to $38.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th.

Insider Buying and Selling at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $31.32, for a total value of $620,989,219.44. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Sumit Singh sold 71,161 shares of the firm’s stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $32.50, for a total value of $2,312,732.50. Following the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at $2,529,735. This trade represents a 47.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 28,103,513 shares of company stock worth $916,453,941. 2.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of CHWY. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Chewy by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 19,741 shares of the company’s stock valued at $661,000 after purchasing an additional 301 shares during the last quarter. Blue Trust Inc. raised its holdings in Chewy by 22.9% during the fourth quarter. Blue Trust Inc. now owns 1,718 shares of the company’s stock valued at $58,000 after buying an additional 320 shares in the last quarter. Fifth Third Bancorp lifted its position in shares of Chewy by 83.0% in the fourth quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after buying an additional 444 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of Chewy by 30.2% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,800 shares of the company’s stock worth $94,000 after acquiring an additional 650 shares in the last quarter. Finally, Washington Trust Advisors Inc. increased its holdings in shares of Chewy by 0.3% during the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after acquiring an additional 923 shares during the last quarter. Institutional investors and hedge funds own 93.09% of the company’s stock.

Chewy Stock Performance

Shares of CHWY stock opened at $38.86 on Thursday. Chewy has a 1 year low of $14.69 and a 1 year high of $39.62. The firm has a market capitalization of $15.82 billion, a PE ratio of 42.70, a price-to-earnings-growth ratio of 4.16 and a beta of 1.10. The stock has a fifty day moving average of $34.74 and a two-hundred day moving average of $30.29.

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