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

Chewy, Inc. (NYSE:CHWY) has been given an average recommendation of “Moderate Buy” by the twenty-three ratings firms that are covering the company, MarketBeat.com reports. Five investment analysts have rated the stock with a hold recommendation and eighteen have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.30.

CHWY has been the subject of several research reports. UBS Group increased their price target on shares of Chewy from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Robert W. Baird increased their price objective on Chewy from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, November 25th. Piper Sandler lifted their target price on shares of Chewy from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Bank of America upgraded Chewy from an “underperform” rating to a “buy” rating and boosted their price target for the company from $24.00 to $40.00 in a research note on Wednesday, November 20th. Finally, Citigroup upgraded Chewy from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $28.00 to $40.00 in a research note on Friday, November 8th.

Insider Activity

In other news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $31.32, for a total value of $620,989,219.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $2,312,732.50. Following the completion of the sale, the chief executive officer now directly owns 77,838 shares of the company’s stock, valued at approximately $2,529,735. The trade was a 47.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,561,427 shares of company stock worth $933,874,848 over the last 90 days. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

A number of large investors have recently bought and sold shares of CHWY. Banque Transatlantique SA purchased a new stake in shares of Chewy in the fourth quarter valued at approximately $30,000. Fifth Third Bancorp boosted its holdings in shares of Chewy by 83.0% in the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock valued at $33,000 after buying an additional 444 shares in the last quarter. Blue Trust Inc. grew its holdings in Chewy by 183.6% in the third 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. Planning Capital Management Corp purchased a new position in Chewy during the 3rd quarter worth $52,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Chewy during the third quarter valued at about $63,000. Hedge funds and other institutional investors own 93.09% of the company’s stock.

Chewy Price Performance

Shares of NYSE:CHWY opened at $37.27 on Monday. Chewy has a 1 year low of $14.69 and a 1 year high of $40.09. The company has a market cap of $15.17 billion, a PE ratio of 40.95, a P/E/G ratio of 2.21 and a beta of 1.10. The stock’s 50-day moving average is $36.71 and its 200 day moving average is $32.27.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, December 4th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $2.89 billion during the quarter, compared to the consensus estimate of $2.86 billion. Chewy had a net margin of 3.51% and a return on equity of 24.47%. Chewy’s revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.08) earnings per share. Analysts expect that Chewy will post 0.24 EPS for the current fiscal year.

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.