Chewy (NYSE:CHWY) Sets New 52-Week High – Here’s Why

Chewy, Inc. (NYSE:CHWY)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $40.09 and last traded at $39.80, with a volume of 465624 shares. The stock had previously closed at $38.95.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CHWY. BNP Paribas cut shares of Chewy from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 5th. Argus raised shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Royal Bank of Canada raised their price target on shares of Chewy from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, December 5th. Morgan Stanley raised their price objective on shares of Chewy from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Monday, January 13th. Finally, Evercore ISI raised shares of Chewy from an “in-line” rating to an “outperform” rating and lifted their price target for the stock from $34.00 to $47.00 in a research report on Monday, January 13th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.80.

Chewy Stock Up 2.3 %

The business’s fifty day simple moving average is $34.83 and its two-hundred day simple moving average is $30.35. The company has a market cap of $16.23 billion, a price-to-earnings ratio of 43.81, a PEG ratio of 4.16 and a beta of 1.10.

Chewy (NYSE:CHWY) last posted its quarterly earnings data on Wednesday, December 4th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $2.89 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned ($0.08) earnings per share. Sell-side analysts predict that Chewy, Inc. will post 0.24 EPS for the current fiscal year.

Insider Activity at Chewy

In other Chewy news, major shareholder Argos Holdings Gp Llc sold 19,827,242 shares of Chewy stock in a transaction that occurred on 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 filing with the SEC, which is available through this link. Also, CEO Sumit Singh sold 13,472 shares of Chewy stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $37.55, for a total value of $505,873.60. Following the sale, the chief executive officer now directly owns 505,109 shares in the company, valued at $18,966,842.95. The trade was a 2.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,103,513 shares of company stock worth $916,453,941 over the last quarter. 2.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Chewy

Several hedge funds have recently added to or reduced their stakes in the stock. Fifth Third Bancorp lifted its holdings in Chewy by 83.0% during the 4th quarter. Fifth Third Bancorp now owns 979 shares of the company’s stock worth $33,000 after purchasing an additional 444 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Chewy by 183.6% in the 3rd quarter. Blue Trust Inc. now owns 1,398 shares of the company’s stock valued at $38,000 after purchasing an additional 905 shares during the period. Planning Capital Management Corp purchased a new stake in shares of Chewy in the third quarter worth approximately $52,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Chewy in the third quarter worth approximately $62,000. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of Chewy in the third quarter valued at approximately $63,000. Institutional investors and hedge funds own 93.09% of the company’s stock.

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.