Chewy (NYSE:CHWY) Reaches New 52-Week Low – Should You Sell?

Shares of Chewy (NYSE:CHWY) hit a new 52-week low on Friday . The stock traded as low as $22.55 and last traded at $22.5250, with a volume of 3669225 shares trading hands. The stock had previously closed at $23.67.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CHWY shares. Guggenheim restated a “buy” rating and issued a $45.00 price target on shares of Chewy in a research note on Monday, April 27th. Citizens Jmp reduced their price objective on Chewy from $48.00 to $45.00 and set a “market outperform” rating for the company in a report on Thursday, March 26th. JPMorgan Chase & Co. cut their price target on Chewy from $46.00 to $40.00 and set an “overweight” rating for the company in a report on Thursday, March 26th. Zacks Research raised Chewy from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 16th. Finally, Barclays lowered their price objective on Chewy from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, March 5th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.91.

Chewy Price Performance

The company has a 50-day moving average price of $25.91 and a two-hundred day moving average price of $29.82. The company has a market cap of $9.54 billion, a PE ratio of 44.05, a P/E/G ratio of 1.00 and a beta of 1.50.

Chewy (NYSE:CHWY) last released its quarterly earnings results on Wednesday, March 25th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.19). Chewy had a return on equity of 53.48% and a net margin of 1.77%.The business had revenue of $3.26 billion during the quarter, compared to analyst estimates of $3.26 billion. During the same quarter last year, the firm posted $0.28 EPS. The company’s revenue was up .5% compared to the same quarter last year. On average, equities research analysts anticipate that Chewy will post 0.89 earnings per share for the current year.

Insider Activity at Chewy

In other news, General Counsel Da-Wai Hu sold 8,149 shares of the firm’s stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $26.91, for a total transaction of $219,289.59. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Sumit Singh sold 4,220 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $25.60, for a total value of $108,032.00. Following the sale, the chief executive officer directly owned 123,955 shares of the company’s stock, valued at approximately $3,173,248. This represents a 3.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 95,675 shares of company stock worth $2,459,955. 0.43% of the stock is owned by insiders.

Institutional Investors Weigh In On Chewy

Several large investors have recently modified their holdings of CHWY. Wellington Management Group LLP boosted its stake in shares of Chewy by 295.9% during the 3rd quarter. Wellington Management Group LLP now owns 17,622,768 shares of the company’s stock worth $712,841,000 after acquiring an additional 13,171,325 shares in the last quarter. Viking Global Investors LP boosted its stake in shares of Chewy by 146.9% during the 4th quarter. Viking Global Investors LP now owns 13,536,645 shares of the company’s stock worth $447,386,000 after acquiring an additional 8,052,955 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Chewy by 120.2% during the 3rd quarter. AQR Capital Management LLC now owns 10,196,146 shares of the company’s stock worth $407,948,000 after acquiring an additional 5,564,803 shares in the last quarter. Norges Bank bought a new stake in shares of Chewy during the 4th quarter worth $154,647,000. Finally, State Street Corp boosted its stake in shares of Chewy by 75.5% during the 2nd quarter. State Street Corp now owns 6,170,197 shares of the company’s stock worth $262,974,000 after acquiring an additional 2,654,496 shares in the last quarter. 93.09% of the stock is owned by institutional investors.

Chewy Company Profile

Chewy, Inc (NYSE: CHWY) is a leading e-commerce retailer specializing in pet food, supplies and services. The company offers a comprehensive assortment of products for dogs, cats, fish, birds and other small animals, including prescription medications, veterinary health products, grooming essentials and toys. Through its online platform and mobile app, Chewy provides an intuitive shopping experience with features such as Autoship, ensuring regular deliveries of pet essentials at schedule intervals.

Founded in 2011 by Ryan Cohen and Michael Day, Chewy initially operated under the name Mr.