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

Shares of Chewy, Inc. (NYSE:CHWY) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price target among brokerages that have covered the stock in the last year is $38.47.

A number of analysts have recently weighed in on CHWY shares. The Goldman Sachs Group raised their price target on shares of Chewy from $40.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, March 27th. Wedbush reiterated an “outperform” rating and issued a $39.00 target price on shares of Chewy in a research note on Thursday, March 27th. Deutsche Bank Aktiengesellschaft set a $27.00 target price on shares of Chewy and gave the stock a “hold” rating in a research note on Monday, April 14th. Argus upgraded shares of Chewy from a “hold” rating to a “buy” rating in a research note on Thursday, January 23rd. Finally, Barclays lifted their target price on shares of Chewy from $40.00 to $44.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th.

Chewy Stock Performance

NYSE:CHWY opened at $41.77 on Friday. Chewy has a fifty-two week low of $15.78 and a fifty-two week high of $42.20. The stock has a market capitalization of $17.28 billion, a P/E ratio of 45.90, a P/E/G ratio of 2.21 and a beta of 1.69. The company’s 50-day simple moving average is $35.07 and its 200-day simple moving average is $34.82.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 26th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.03 by $0.25. Chewy had a net margin of 3.51% and a return on equity of 24.47%. The business had revenue of $3.25 billion for the quarter, compared to analysts’ expectations of $3.20 billion. During the same period last year, the business earned $0.07 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. On average, research analysts forecast that Chewy will post 0.24 EPS for the current year.

Insider Buying and Selling at Chewy

In other news, CFO David Reeder sold 7,863 shares of Chewy stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $36.50, for a total transaction of $286,999.50. Following the completion of the transaction, the chief financial officer now directly owns 11,582 shares of the company’s stock, valued at $422,743. The trade was a 40.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Sumit Singh sold 8,552 shares of Chewy stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $33.35, for a total transaction of $285,209.20. Following the transaction, the chief executive officer now directly owns 62,096 shares of the company’s stock, valued at approximately $2,070,901.60. This trade represents a 12.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 307,411 shares of company stock worth $11,928,229. Company insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Several institutional investors have recently made changes to their positions in the company. Mutual of America Capital Management LLC purchased a new stake in Chewy in the 4th quarter worth $2,915,000. Raymond James Financial Inc. purchased a new stake in Chewy in the 4th quarter worth $69,789,000. Birch Hill Investment Advisors LLC purchased a new stake in Chewy in the 4th quarter worth $1,174,000. Money Concepts Capital Corp purchased a new stake in Chewy in the 4th quarter worth $225,000. Finally, Vanguard Group Inc. increased its holdings in Chewy by 31.8% in the 4th quarter. Vanguard Group Inc. now owns 14,484,717 shares of the company’s stock worth $485,093,000 after acquiring an additional 3,493,926 shares in the last quarter. 93.09% of the stock is owned by hedge funds and other institutional investors.

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.