Chewy, Inc. (NYSE:CHWY) CEO Sells 71,161 Shares

Chewy, Inc. (NYSE:CHWY) CEO Sumit Singh sold 71,161 shares of Chewy stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 77,838 shares in the company, valued at approximately $2,529,735. This represents a 47.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Chewy Stock Up 3.5 %

NYSE:CHWY traded up $1.19 during mid-day trading on Monday, reaching $34.91. 4,703,811 shares of the company were exchanged, compared to its average volume of 8,533,634. The stock has a market cap of $14.25 billion, a PE ratio of 38.36, a PEG ratio of 4.28 and a beta of 1.12. The company has a fifty day moving average of $31.10 and a 200 day moving average of $28.21. Chewy, Inc. has a 12 month low of $14.69 and a 12 month high of $39.10.

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in Chewy by 183.6% in the third quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after acquiring an additional 905 shares during the last quarter. Washington Trust Advisors Inc. lifted its stake in shares of Chewy by 0.3% in the 3rd quarter. Washington Trust Advisors Inc. now owns 278,452 shares of the company’s stock valued at $8,156,000 after purchasing an additional 923 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in shares of Chewy by 10.0% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 11,325 shares of the company’s stock worth $308,000 after purchasing an additional 1,029 shares during the last quarter. D.A. Davidson & CO. grew its stake in shares of Chewy by 5.0% during the third quarter. D.A. Davidson & CO. now owns 26,219 shares of the company’s stock worth $768,000 after purchasing an additional 1,244 shares during the period. Finally, Industrial Alliance Investment Management Inc. bought a new stake in Chewy in the second quarter valued at about $44,000. Institutional investors own 93.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on CHWY. JMP Securities reaffirmed a “market outperform” rating and set a $37.00 target price on shares of Chewy in a research report on Monday, December 16th. UBS Group upped their price objective on shares of Chewy from $30.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and issued a $39.00 target price (up previously from $35.00) on shares of Chewy in a research note on Thursday, December 5th. Royal Bank of Canada boosted their price target on Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. Finally, BNP Paribas lowered Chewy from an “outperform” rating to a “neutral” rating in a report on Thursday, December 5th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $34.60.

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.