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

Chewy, Inc. (NYSE:CHWY) has received a consensus recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat reports. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $37.95.

A number of research analysts have recently commented on the company. The Goldman Sachs Group upped their price target on Chewy from $35.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Chewy from $24.00 to $28.00 and gave the stock a “hold” rating in a research report on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Chewy in a research report on Thursday, December 5th. Morgan Stanley upped their price target 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, Mizuho upgraded shares of Chewy from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $24.00 to $42.00 in a research note on Monday, January 6th.

Insider Activity at Chewy

In other news, CEO Sumit Singh sold 9,285 shares of the stock in a transaction dated Thursday, January 30th. The stock was sold at an average price of $40.00, for a total transaction of $371,400.00. Following the transaction, the chief executive officer now directly owns 489,750 shares in the company, valued at approximately $19,590,000. This represents a 1.86 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Satish Mehta sold 83,639 shares of the firm’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $40.00, for a total value of $3,345,560.00. Following the transaction, the chief technology officer now directly owns 334,218 shares in the company, valued at approximately $13,368,720. This represents a 20.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,726,333 shares of company stock valued at $312,843,856 over the last 90 days. 2.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Chewy

Institutional investors and hedge funds have recently made changes to their positions in the business. Victory Capital Management Inc. grew its stake in shares of Chewy by 78.3% during the third quarter. Victory Capital Management Inc. now owns 55,779 shares of the company’s stock valued at $1,634,000 after buying an additional 24,493 shares during the last quarter. Natixis Advisors LLC grew its position in Chewy by 88.2% during the 3rd quarter. Natixis Advisors LLC now owns 176,450 shares of the company’s stock worth $5,168,000 after acquiring an additional 82,713 shares during the last quarter. Swiss National Bank increased its stake in Chewy by 11.8% in the 3rd quarter. Swiss National Bank now owns 299,100 shares of the company’s stock worth $8,761,000 after purchasing an additional 31,500 shares during the period. Quest Partners LLC bought a new stake in Chewy in the third quarter valued at approximately $229,000. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of Chewy by 4.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 528,215 shares of the company’s stock valued at $15,471,000 after purchasing an additional 24,798 shares during the period. Institutional investors own 93.09% of the company’s stock.

Chewy Stock Up 0.4 %

Shares of CHWY stock opened at $32.38 on Friday. Chewy has a 12-month low of $14.69 and a 12-month high of $40.09. The company has a 50 day moving average of $36.30 and a 200-day moving average of $32.92. The firm has a market cap of $13.18 billion, a P/E ratio of 35.58, a PEG ratio of 2.21 and a beta of 1.23.

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.