Chewy (NYSE:CHWY) Trading Down 3.3% – What’s Next?

Chewy, Inc. (NYSE:CHWY) shares were down 3.3% on Wednesday . The company traded as low as $28.08 and last traded at $28.38. Approximately 1,101,628 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 9,339,259 shares. The stock had previously closed at $29.36.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Barclays lifted their price target on shares of Chewy from $32.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, August 29th. Robert W. Baird upped their price objective on Chewy from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, August 20th. Royal Bank of Canada lifted their target price on shares of Chewy from $24.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, August 29th. Argus cut shares of Chewy from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. Finally, Raymond James lowered shares of Chewy from an “outperform” rating to a “market perform” rating in a report on Wednesday, August 21st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Chewy currently has an average rating of “Moderate Buy” and an average price target of $29.11.

Chewy Price Performance

The stock has a fifty day simple moving average of $27.26 and a two-hundred day simple moving average of $22.58. The firm has a market capitalization of $12.60 billion, a P/E ratio of 161.00, a P/E/G ratio of 2.98 and a beta of 1.04.

Chewy (NYSE:CHWY) last announced its quarterly earnings data on Wednesday, August 28th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Chewy had a net margin of 3.20% and a return on equity of 21.00%. The company had revenue of $2.86 billion during the quarter, compared to the consensus estimate of $2.86 billion. As a group, sell-side analysts expect that Chewy, Inc. will post 0.32 EPS for the current fiscal year.

Insider Buying and Selling at Chewy

In related news, CEO Sumit Singh sold 14,338 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $22.24, for a total value of $318,877.12. Following the completion of the sale, the chief executive officer now directly owns 1,398,271 shares of the company’s stock, valued at approximately $31,097,547.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Chewy news, CTO Satish Mehta sold 2,894 shares of the firm’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $22.24, for a total value of $64,362.56. Following the transaction, the chief technology officer now directly owns 573,463 shares of the company’s stock, valued at $12,753,817.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sumit Singh sold 14,338 shares of Chewy stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $22.24, for a total transaction of $318,877.12. Following the transaction, the chief executive officer now owns 1,398,271 shares of the company’s stock, valued at $31,097,547.04. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,888,627 shares of company stock valued at $790,397,620. Corporate insiders own 2.10% of the company’s stock.

Hedge Funds Weigh In On Chewy

Large investors have recently added to or reduced their stakes in the business. 1620 Investment Advisors Inc. purchased a new stake in Chewy in the 2nd quarter valued at $33,000. Industrial Alliance Investment Management Inc. purchased a new position in Chewy during the second quarter worth about $44,000. First Horizon Advisors Inc. bought a new stake in Chewy in the 2nd quarter worth about $48,000. Skylands Capital LLC purchased a new stake in Chewy in the 2nd quarter valued at about $52,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Chewy during the first quarter valued at approximately $65,000. Institutional investors 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.